Faroe outlines Norwegian drilling program

Faroe Petroleum has begun drilling operations on Norwegian License PL006C well 2/5-14 S, which holds the Hyme oil prospect.

Offshore staff

ABERDEEN, UK -- Faroe Petroleum has begun drilling operations on Norwegian License PL006C well 2/5-14 S, which holds the Hyme oil prospect. The Hyme exploration prospect is contained within a stratigraphic trap located on the western flank of the South East Tor discovery.

The drilling program using theMaersk Gallant is expected to take approximately 50 days.

The Lundin-operated South East Tor appraisal well 2/5-14 A will be drilled directly following the drilling of the adjacent Hyme well, and is expected to take approximately 30 days.

The South East Tor oil discovery (2/5-3) lies in 67 m (220 ft) of water within the Upper Cretaceous Tor and Ekofisk chalk formations and near the producing reservoirs Ekofisk, Valhall, and Tor fields. Well 2/5-3 was drilled in 1972 on the crest of a salt-induced anticline. The well encountered oil in both the Tor and Ekofisk formations and was successfully tested, with 43º API oil quality at 4,525 b/d of oil from the Tor formation and also 4,281 b/d of oil from a separate test in the Ekofisk formation. South East Tor and Hyme are both located within tie-back distance of a number of potential production hosts in the area.

Drilling of the Grosso exploration prospect is scheduled to begin shortly and will be drilled by the operator StatoilHydro using theOcean Vanguard. The license is located on the northeast flank of the North Viking Graben and the companies have identified multiple prospects in both structural and stratigraphic closures, with Jurassic and Lower Cretaceous reservoir objectives. No wells have been drilled on the license, despite being located immediately north of the Jurassic gas/oil Gjøa field and south of the undeveloped Cretaceous Agat gas discovery.

The drilling program is expected to take approximately 70 days.

01/07/2009

More in Drilling & Completion