Skipper is due to be spudded on July 22 (next Friday) and the drill programme is expected to take 22 days, meaning initial results will be anticipated by mid-August.

The well is seen as a potentially transformational project for the company as it could cement a significant development and production opportunity.

Estimates thus far put Skipper’s resources at 34.1mln barrels, though the well offers additional exploration potential which could increase that.

Skipper will be drilled to a depth of 5,600 feet and its main aim is to flow oil and allow the company to retrieve reservoir condition crude samples. This primary objective will help with oil field development planning.

Two exploration targets will also be tested as part of the operation, these are the Lower Dornoch and Maureen formations.

Mark Routh, IOG chief executive, said: “We continue to make good progress towards the drilling of the Skipper appraisal well, which has received tremendous support from the North Sea community.

“We believe this well will be transformational for the company and look forward to its imminent spudding.”