ABERDEEN, UK – Faroe Petroleum expects the Brasse wildcat well in the Norwegian North Sea to spud this summer.
The semisubmersible Transocean Arctic will drill the prospect. A discovery could be tied back to either the Brage or the Oseberg platforms.
Later this year the Njord partnership, led by Statoil, plan a well on a new prospect on the field’s North Flank. If successful, the reserves would add further volumes to the 200-MMboe Njord Future project in the Norwegian Sea.
Statoil has chosen a two-well subsea tieback to Njord A as its preferred concept for the Snilehorn development, Faroe adds.
This would involve drilling a water injector from the Hyme template into the Snilehorn reservoir. Terms for a tie-in agreement with Njord have been negotiated.
As for the VNG-operated Pil, Faroe’s other main development project in the region, a feasibility report submitted last year to the Norwegian authorities confirmed three potentially economic options: a subsea tieback to Njord or the Shell-operated Draugen platform, or a standalone development based on a leased FPSO.
Work continues this year to mature the project toward a concept selection.
During 2016 Faroe plans to relinquish two exploration licenses in the west of Shetland area, P1190 Tornado and P2011 Dunvegan, and its 20% interests in the Solberg and Rodriquez licences (Faroe 20%) offshore Norway.
In the latter two cases, the decision was driven by increasing licensing fees together and a low likelihood of the discoveries being progressed to economically viable developments.
Late in 2014 Faroe was awarded three new license options in n the southern margin of Ireland’s North Celtic Sea basin. It aims to apply low-cost reprocessing technology to de-risk various prospects ahead of further cost commitments.
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