Faroe lines up further drilling targets offshore Norway

Faroe Petroleum has provided an update on its exploration and field development programs offshore Norway.

Offshore staff

ABERDEEN, UKFaroe Petroleum has provided an update on its exploration and field development programs offshore Norway.

Results are due in the next few weeks from OMV’s Iris/Hades well (Faroe 20%) which spudded last November, targeting two separate formations (one Cretaceous and the other Jurassic).

Spirit Energy’s Fogelberg appraisal well (Faroe 28%) started drilling this month, the main aim being to the narrow the gas/condensate resource range and to provide additional information for development planning.

During the second half of this year the company expects to drill the operated Rungne exploration well in license PL825, north of the Oseberg field in the northern Norwegian North Sea.

Prime target will be the Mid-Jurassic Oseberg Formation, with secondary targets in the Etive, Ness, and Tarbert formations. Faroe estimates potential resources at around 79 MMboe.

The Cassidy exploration well (Faroe 15%) will be drilled back-to-back with the production wells on Spirit’s Oda development in the southern Norwegian North Sea.

Cassidy is in the PL405 Oda license to the north: the well will target a prospect with the same Jurassic Ula formation level as the Oda field, with potential reserves of 50 MMboe.

Faroe will also join Statoil in a well in late 2018 or early 2019 on the Pabow prospect on the western flank of the Stord basin in PL870, east of the Utsira High and the Ringhorne East field. Here the main target (70 MMboe) is in the Lower Jurassic Statfjord Group.

In addition, the company will partner with Wintershall next year on a well on the Yoshi prospect (potentially 30 MMboe) in PL 836 S in the Norwegian Sea, southwest of the Smørbukk South field.

Faroe says seismic interpretation is progressing of itsBrasse discovery in the North Sea and of possible further prospects to the north and east. This could lead to drilling of an exploratory well later in 2018 or 2019.

At the nearby Wintershall-operated Brage field (Faroe 14.3%), infill drilling continues with two producer-injector pairs into the Statfjord formation and one producer in the Fensfjord formation.

The first Statfjord producer and the Fensfjord producer are both onstream, while the second Statfjord producer should come online next month.

BP plans to bring onstream the first of two recently completed infill wells targeting undrained areas in the north and south of the Tambar field in the southern Norwegian North Sea (Faroe 45%).

This and the second well should add 10-15,000 boe/d to production. Further development will likely employ gas lift to extend field life by up to 10 years.

Oda, under development as a subsea tieback to the Ula platform (Faroe 20%), is set for a busy offshore construction phase this spring with two producers and one water injection well to be drilled. Production from the Faroe-operated Oselvar field will then cease to allow the Oda tie-in to be undertaken.

02/14/2018

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