Faroe has plans for west of Shetland

Faroe Petroleum expects to participate in four deepwater wells on prospects west of Shetland.

Offshore staff

ABERDEEN, UK --Faroe Petroleum expects to participate in four deepwater wells on prospects west of Shetland.

One of these is Tornado, close to the undeveloped Suilven oilfield. Operator OMV is seeking a rig to drill in 2008 or 2009. The other three prospects – Cardhu, Lagavulin, and Talisker – are in licenses on trend with Chevron's Rosebank discovery. Earlier this year Faroe farmed out part of its interests in all these licenses to Idemitsu to lower its share of drilling costs.

In Faroese license 005, Faroe and joint venture partner Eni have a rig lined up to drill an exploration well by mid-2009. One of the main prospects is Anne Marie, in a prominent structural trend offsetting the Corona Ridge, where Rosebank is situated.

In the UK's southern gas basin, Faroe partners Gaz de France in the recently on stream Minke Main development, which exports its gas through the NGT trunkline in Dutch waters via the D15 platform. Depending on Minke's production history, and a planned field re-mapping exercise, the partners may move to develop the nearby Minke Graben and Orca gas discoveries.

09/10/2007

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