ABERDEEN, UK – Faroe Petroleum has agreed to take a 50% interest from Talisman Sinopec in UK central North Sea license P.324, block 14/20c.
This contains Lowlander, an Upper Jurassic Piper sand oil field discovered in 1987 by the Texaco-drilled 14/20b-17 well.
The field, which was fully appraised by subsequent wells, has sour characteristics, similar to those of the Perth field development 16 km (9.9 mi) distant, in which Faroe has a 34.62% interest. The work program will include a joint Perth/Lowlander development study.
Graham Stewart, CEO of Faroe, said: “The collective volumes in these fields are significant, considering their central location in the UK North Sea…”