The field will likely use new gas export infrastructure currently being installed nearby on the Total‐operated Laggan/Tormore gas project.
Elsewhere in this region, Odfjell continues drilling on the BP‐operated North Uist exploration prospect, in which Faroe has a 6.25% interest. The deepwater well spudded in March 2012, but the program has been delayed by three months due to drilling-related technical issues.
Farther north on the Corona Ridge, Faroe operates the Grouse prospect, a large structure located above the basalt layers. An electromagnetic survey was acquired over Grouse this summer to further de‐risk the prospect ahead of a drilling commitment decision.
On the Fulla and Freya discoveries (Faroe operator with 50%), work continues to establish the potential for a combined development project.
OMV’s Tornado discovery (Faroe 7.5%) contains significant gas resources and an oil rim in a high-quality reservoir. The partners and other partnerships in the area are evaluating feasibility of a joint development and gas export solutions.
Offshore Norway, Faroe is a partner in Centrica’s Fogelberg gas/condensate discovery in the Norwegian Sea. Operator is working toward field development once export capacity becomes available in the nearby Åsgard production and transportation system.
Early this year Faroe participated in Centrica’s Butch discovery well and side track in the Norwegian North Sea. This found light oil on the northwest flank of a large salt structure. The location is in 66 m (216 ft) water depth, close to BP’s Ula and Gyda fields.
Centrica is working on a development plan and, in parallel, aims to drill two further exploration wells in the middle of next year on the untested southwest and east sides of the salt structure.
Additionally, Faroe has committed to two exploration wells on the Halten Terrace in the Norwegian Sea in 2012 and 2013: the Rodriguez South well, targeting an untested Jurassic fault block close to the Wintershall-operated Maria discovery; and the Faroe-operated Novus well, targeting a fault structure with a supporting seismic anomaly between Maria and the Heidrun field.
Faroe has a 7.8% stake in the ExxonMobil-operated Ringhorne East field in the North Sea, where the first of two long reach infill wells came onstream at end-July, targeting un‐drained oil identified on 4D seismic.
It is also a partner in the Statoil-operated Glitne field, which is approaching the end of field life, following an unsuccessful in‐fill well early this year. Work has started on planning decommissioning of the field in 2013.
Offshore Iceland, Faroe submitted applications in April in a licensing round, in partnership with Íslenskt kolvetni, in the Jan Mayen Island area.