Rough weather stops Faroes well

Statoil (OSE:STL) and partners ExxonMobil (NYSE:XOM) and Atlantic Petroleum have temporarily halted operations on the Brugdan II well, 80 km (49.7 mi) offshore the Faroe Islands.

Nov 27th, 2012

Offshore staff

STAVANGER, Norway – Statoil (OSE:STL) and partners ExxonMobil (NYSE:XOM) and Atlantic Petroleum have temporarily halted operations on the Brugdan II well, 80 km (49.7 mi) offshore the Faroe Islands.

The well has drilled into the sub-basalt section, but has not yet reached the chief objective. The suspension is due to bad weather.

The semisubmersibleCOSL Pioneer started drilling the well in June in a water depth of 450 m (1,476 ft).

This is the second exploration well on license 006, which covers about 579 sq km (223 sq mi), and the eighth since 2001. Statoil has six operated Faroese offshore licenses, all sub-basalt and with a varied geology.

11/27/2012

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