Faroe finds non-commercial oil with T-Rex well

Offshore staff

ABERDEEN, UK – Faroe Petroleum has discovered oil on both the T-Rex and Bolan exploration prospects in the Norwegian Sea but not in commercial quantities.

The 6406/3-9 well in license PL431 reached a total depth of 4,183 m (13,724 ft) within shales of the Lange formation. The well targeted Lower Cretaceous sandstones of the Lange formation (T-Rex) and Lysing formation (Bolan). The well is operated by Maersk Oil (70%), in partnership with Faroe Petroleum (30%). The semisub Transocean Winner drilled the well, which is now being P&A’d.

T-Rex was the primary target and preliminary results based on extensive coring, wireline logs and pressure data have confirmed the presence of oil, but in a thinner than expected reservoir interval, and the well will not be production tested. The Bolan prospect in the shallower Lysing formation also encountered an oil column, within an inter-bedded sandstone package.

3/7/2012

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