TheUla hub, in which Faroe is a partner, should also benefit from the additional gas requirement.
Statoil and its partners are set to take an investment decision next month on another hub project at the Njord field in the Norwegian Sea.
TheNjord Future Project encompasses refurbishment of the existing Njord production facilities, development of the Bauge (ex-Snilehorn) discovery, and potentially of other fields in the area in which Faroe has interests. Production is due to re-start in 2020.
Over the course of the coming year, Faroe, as part of a VNG-led partnership, will continue development studies on the nearbyPil, Bue and Boomerang oil discoveries, following the choice of a subsea tieback to the Njord hub as their preferred solution.
They will commit to formal concept selection and front-end engineering design in the current quarter, followed by probable sanction for the project by the end of the year.
In the North Sea, Wintershall’s infill well campaign at the Brage field (Faroe 14.3%) is progressing as planned, and includes targets defined on 4D seismic. Mobilization for the first well will start in April and production is expected to follow in 4Q.
This summer Faroe plans an appraisal well on last year’sBrasse discovery, close to Brage, and is working on further wells in late 2017 or early 2018.
Candidates include a structure on the newly-awarded Brasse extension (Faroe 50% and operator), another on the Aerosmith license in the Norwegian Sea, and the recently awarded Goanna license in the North Sea (Faroe 30%).