Faroe discovers oil at Fulla, supporting integrated development West of Shetlands

By Phaedra Friend Troy

Independent oil and gas producer Faroe Petroleum (LSE:FPM) has discovered oil at the Fulla prospect in the Atlantic Margin, West of Shetland. 

Spud on July 6, 2011, discovery well 206/5a-3 was drilled by the Awilco-owned WilPhoenix semisubmersible rig to a total depth of 7,711 feet total vertical depth in waters measuring 407 feet deep. Located about 31 kilometers northeast of the BP-operated Clair field platform, the Fulla well was targeting potentially oil-bearing Clair and Whiting reservoir sands. 

The Fulla discovery well transected a gross oil column of 133 feet and a net oil column of 45 feet with average porosity estimated at 23 percent. Oil samples were recovered and are under analysis. 

The WilPhoenix is currently working to plug and abandon the Fulla well, as planned, and the rig is expected to move from the field in the coming days. 

Atlantic Margin Integrated Development 

Faroe is working to determine development options for the Fulla alongside the Freya oil discovery made in 1980. 

Freya is located just south of Fulla on the adjacent Block 206/10a, and Faroe serves as the operator of that block with 50 percent interest. 

“Further work will be conducted in the coming weeks to gain a deeper understanding of the structure and its contents,” said Graham Stewart, chief executive of Faroe. “With better than expected reservoir quality and good indications of mobile oil, we believe there is potential for a commercial field development, most likely in combination with our nearby Freya discovery.” 

Faroe Petroleum serves as the operator of 206/5a, where Fulla is located, with 50 percent interest. Canadian Overseas petroleum holds the remaining 50 percent interest.

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