Faroe to participate in five wells offshore Norway

Offshore staff

ABERDEEN, UKFaroe Petroleum has issued an update on its exploration drilling program offshore Norway over the next five months.

Statoil will drill a well and side track next month on the Snilehorn prospect (Faroe 7.5%), 4 km (2.5 mi) from the producing Hyme field in the Norwegian Sea. The well, drilled by the semisubmersible Songa Trym, will target oil and gas in the Jurassic Ile, Tilje and Åre formations. If successful, a fasttrack development is likely through the Njord facilities, similar to the Hyme development, leading potentially to first oil in 2015/2016.

The jackup Maersk Giant is expected to start drilling the Butch East and Butch South West wells (Faroe 15%) in the southern Norwegian North Sea in October. Here operator Centrica Norge opened a new oil play with the main Butch field discovery in October 2011.

Faroe will operate the Novus well, 9 km (5.6 mi) southwest of the Statoil-operated Heidrun field in the Halten Terrace region of the Norwegian Sea. The drillship West Navigator is expected to spud the well in November, and target the Jurassic reservoirs of the Garn, Ile, and Tilje formations.

In December, the semisubmersible Transocean Arctic is expected to spud the Pil well (Faroe 25%) for operator VNG, again in the Norwegian Sea. This will target a combined structural and stratigraphic closure. The primary target shallower upper Jurassic Rogn formation sandstone has proven productive in the producing Draugen field 60 km (37 mi) to the northeast. However, Pil prospect is closer to Njord.

Finally, Wintershall’s well on the Solberg structure (Faroe 20%) will appraise the lateral extent and size of this year’s lower Cretaceous Rodriguez discovery in the North Sea. Here moveable hydrocarbons were discovered in sandstone layers in the Lange formation.

Faroe has completed its first two operated seismic surveys offshore Norway. A Polarcus vessel acquired the 1,700-sq km (656-sq mi) 3D program using long offset technology.

The first survey was over multiple prospects in the PL665 S Caramello license, awarded to the company in January. The location is in the southern Norwegian North Sea where the primary play is the Upper Jurassic Ula Formation sandstones, successfully explored in the Butch discovery.

The second survey was over the Lola prospect in PL620, issued to Faroe in January 2012. The decision to acquire 3D seismic was taken following promising interpretation of new long-offset 2D seismic data.

8/22/2013

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