ABERDEEN, UK – Faroe Petroleum has provided updates on its development programs in the Norwegian North Sea and its exploration drilling plans for 2018.
At the Wintershall-operatedBrage oil field (Faroe 14.3%), the initial performance from the first of a series of new infill wells has been strong, and a supporting water injection well has also been drilled.
Work has since started on a further infill production well with more wells planned during 2018. In addition, the partners have identified opex reductions through operational improvement projects.
Appraisal drilling this year on the nearbyBrasse field discovery has led Faroe, as operator, to upgrade the resource range and to investigate larger development scenarios.
The company now anticipates capex in the range of $500-700 million, compared with the previous mid-case of $550 million. Faroe expects to conclude the concept selection process in 2018.
Centrica’s Oda development (Faroe 15%) is on track to start production in 2019, with average plateau production of 30,000 b/d.
Next month OMV will spud the Iris/Hades exploration well (Faroe 20%), and Faroe will also co-fund Centrica’s planned appraisal well on the Fogelberg discovery in February 2018.
Faroe could drill two operated wells in mid-2018 on the Rungne structure, northwest of the Brage field, and the Brasse North/Extension prospect.
Later in 2018, it will participate in Centrica’s Cassidy exploration well north of Oda.