Deepwater North Uist well nearing conclusion west of Shetland

Offshore staff

ABERDEEN, UK – Faroe Petroleum has provided a detailed update on its current and upcoming exploration wells offshore northwest Europe.

West of Shetland, the BP-operated deepwater North Uist well 213/25c spudded last March, but progress has been delayed by drilling-related technical difficulties. However, the well is nearing target depth and is expected to be completed soon. Faroe gives no indication of the likely result.

All the other wells are in the Norwegian sector. Repsol will operate well 7218/11-1 on the Darwin prospect on the Veslemøy High in the western part of the Barents Sea, 70 km (43 mi) southwest of the Skrugard and Havis oil discoveries. This is a high-impact wildcat targeting a large closure at multiple levels.

Statoil’s Snilehorn well and optional side track will be drilled in the second half of this year, 4 km (2.5 mi) from the Njord field in the Norwegian Sea, targeting oil and gas in the lower Jurassic Tilje and Åre formations. If successful, a fasttrack development is planned through the Njord facilities, similar to the Hyme development, which is close to start-up.

Faroe will operate the Novus exploration well, due to spud in the second half of the year, at a location southwest of the Heidrun field in the Halten Terrace region of the Norwegian Sea. Main targets will be Jurassic reservoirs in the Garn, Ile, and Tilje formations.

Finally, Centrica Norge will operate the Butch East and Butch South West wells in the North Sea, due to start drilling at year-end in 60 m (197 ft) water depth, close to the producing (BP-operated) Ula, Tambar, and Gyda fields. This is a follow-up to the 2011 Butch discovery well, which opened a new oil play in the area.

1/17/2013

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