Faroe aims for tiebacks of summer wells offshore Norway

Faroe Petroleum expects the Brasse wildcat well in the Norwegian North Sea to spud this summer.

Offshore staff

ABERDEEN, UKFaroe Petroleum expects the Brasse wildcat well in the Norwegian North Sea to spud this summer.

ThesemisubmersibleTransocean Arctic will drill the prospect. A discovery could be tied back to either the Brage or the Oseberg platforms.

Later this year the Njord partnership, led by Statoil, plan a well on a new prospect on the field’s North Flank. If successful, the reserves would add further volumes to the 200-MMboeNjord Future project in the Norwegian Sea.

Statoil has chosen a two-well subsea tieback to Njord A as its preferred concept for the Snilehorn development, Faroe adds.

This would involve drilling a water injector from the Hyme template into theSnilehorn reservoir. Terms for a tie-in agreement with Njord have been negotiated.

As for theVNG-operated Pil, Faroe’s other main development project in the region, a feasibility report submitted last year to the Norwegian authorities confirmed three potentially economic options: a subsea tieback to Njord or the Shell-operated Draugen platform, or a standalone development based on a leased FPSO.

Work continues this year to mature the project toward a concept selection.

During 2016 Faroe plans to relinquish two exploration licenses in the west of Shetland area, P1190 Tornado and P2011 Dunvegan, and its 20% interests in the Solberg and Rodriquez licences (Faroe 20%) offshore Norway.

In the latter two cases, the decision was driven by increasing licensing fees together and a low likelihood of the discoveries being progressed to economically viable developments.

Late in 2014 Faroe was awarded three new license options in n the southern margin of Ireland’s North Celtic Sea basin. It aims to apply low-cost reprocessing technology to de-risk various prospects ahead of further cost commitments.

03/29/2016

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