Stay Connected

Faroe Petroleum lining up Faroese, Shetland drilling targets

Offshore staff

ABERDEEN, UK – Faroe Petroleum has been awarded a new prospecting license by the Faroe Island government.

The company has already started its work program and will perform extensive technical analysis and screening, with the aim of identifying new exploration prospects.

Faroe participated in the islands’ first offshore licensing round in 2000, winning shares in two permits with Eni.

In recent years the main favored play has been large sub-basalt structures, a strategy Statoil and ExxonMobil are pursuing for their planned deepwater well this year on the Brugdan Deep prospect.

Faroe says it has built up its own unique geological and geophysical data base in the region, and has now secured access to the database of Jarðfeingi, the Faroese Oil & Gas Authority.

In adjacent UK waters west of Shetland, Faroe operates license P1853 containing the potentially giant Grouse structural prospect on the North Corona Ridge, in what the company labels “an exciting new exploration play” above the basalt layers. Faroe plans to commission an electromagnetic survey to reduce risks ahead of a drilling decision.

Farther south in a relatively unexplored play west of BP’s Clair field, Faroe operates P1839 which includes the Aileen prospect, another potential drilling candidate. The nearby Edradour discovery drilled by Total in 2010 is in a similar geological play.

Faroe is a partner in the Glenlivet discovery, where planning is under way for concept selection and submission of a field development plan. Glenlivet could be tied into the new west of Shetland gas gathering pipeline system that Total is installing for the Laggan and Tormore gas field development.

The company is also a participant in the Tornado discovery, which has gas and an oil rim in a good-quality reservoir. Due to its location in deeper water, and being further offshore than Glenlivet, timing of this development project will likely coincide with the installation of new gas infrastructure in the area.

Also in the Southern Gas basin, the operator of the Orca field (Faroe 3.2%) has submitted a FDP and first gas is expected in 2014.

In the northern Norwegian North Sea, Faroe is a partner in the Statoil-operated Brage field which came onstream in 1993. Here output was above expectations last year due to strong performance of new infill wells. Drilling will continue in 2012, supported by a new 4D seismic survey to firm up further in‐fill well targets.

The same applies to ExxonMobil’s Ringhorne East (Faroe 7.8%) area, in the center of the Norwegian North Sea, which started production in 2006. Two new infill wells are planned this year to generate new production capacity, supported by recently acquired 4D seismic.

3/27/2012

Related Articles

Lime farms into mid-Norway licenses

Jun 6, 2014

Hibiscus Petroleum’s joint venture subsidiary Lime Petroleum Norway has negotiated farm-ins to two licenses in the Norwegian Sea.

North Sea Blythe submission slips to late-2014

Jun 6, 2014

Alpha Petroleum Resources (APR), the former UK subsidiary of ATP, has received tenders for the pipeline route and site survey for the Blythe field development in the UK southern North Sea.

Polarcus completes seismic acquisition at Breagh

Jun 5, 2014

Polarcus has completed acquisition of the Breagh multi-client project in the UK southern North Sea five days ahead of schedule.

GDF SUEZ E&P UK orders new ERRV for Cygnus field

Jun 5, 2014 GDF SUEZ E&P UK has awarded a five-year, multi-million-dollar contract to Sentinel Marine to provide a new 61-m (200-ft) multi-role emergency response and rescue vessel to support drilling oper...

New compressors lifted onto Troll A

Jun 5, 2014

The heavy-lift vessel Saipem 7000 has completed lifting two new compressors onto the Troll A platform in the North Sea for Statoil.

Trending News

CHI awarded offshore GoM helicopter contract

Oct 1, 2014

CHI Aviation has won a five-year contract to provide search and rescue services, and helicopter emergency medical services (HEMS) using a Sikorsky S-92 for a major oil and gas producer in the Gulf of Mexico.

Deep Sea Mooring opens base in Australia

Oct 1, 2014

Deep Sea Mooring, a provider of mooring solutions, is expanding its international footprint with the opening of a new office in Perth, Australia. The facility, which will officially open Oct. 8, will provide sales and technical support to customers across Australasia.

Atkins acquires Houston Offshore Engineering

Oct 1, 2014

WS Atkins plc has acquired Houston Offshore Engineering LLC, an oil and gas offshore engineering business based in Houston, for $73 million (£45 million).

MOL merges companies, upgrades bridge simulator

Oct 1, 2014

Mitsui O.S.K. Lines Ltd. reports the merger completion of MOL Marine Consulting Ltd. and MOL Cable Ship Ltd., effective Oct. 1. The new company, called MOL Marine Co. Ltd., will continue to develop the businesses pioneered by its two predecessors.

AFGlobal completes integration of VerdErg Connectors

Oct 1, 2014

AFGlobal Corp. has completed its integration of VerdErg Connectors Ltd., a UK-based supplier of customized subsea pipeline and control connection systems. AFGlobal acquired VerdErg Connectors in late June.

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue

Oil & Gas Jobs

Search More Job Listings >>