Faroe contracts jackup for Clapton prospect

Faroe Petroleum has contracted the Maersk Guardian jackup to drill the Clapton prospect in PL440S offshore Norway.

Offshore staff

ABERDEEN, UK – Faroe Petroleum has contracted theMaersk Guardian jackup to drill the Clapton prospect in PL440S offshore Norway. The well is scheduled to spud late next year or early 2012.

Clapton is on the edge of a salt induced structure called the Mode Dome which was previously explored in the 1980s. The main targets in the structure are the Upper Cretaceous Hod, Tor, and Ekofisk formations, which are proven reservoir in the Central Graben both in Norway and UK.

Faroe Petroleum recently increased its stake in PL440S from 20% to 40%, the remaining co-venturers are Det norske oljeselskap (whose stake went from 30% to 10%), Norwegian Energy Co. (12%), Lundin (18%), and Dana (20%).

11/30/2010

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