NPD Grants Faroe N. Sea Drilling Gig

The Norwegian Petroleum Directorate has granted Faroe Petroleum Norge AS a drilling permit for wellbore 2/8-18 S.

Wellbore 2/8-18 S will be drilled from the Maersk Guardian (350' ILC) drilling facility at position 56°22'37.58"N and 3°22'24.88"E.

The drilling program for wellbore 2/8-18 S relates to the drilling of a wildcat well in production license 440 S. Faroe Petroleum Norge AS is the operator with a 40 percent ownership interest. The other licensees are Dana Petroleum Norway AS with a 20 percent ownership interest, Lundin Norway AS with 18 percent ownership interest, Norwegian Energy Company ASA with 12 percent ownership interest and Det norske oljeselskap ASA with 10 percent ownership interest. Production license 440 S was awarded to Faroe Petroleum Norge AS in 2007 (APA 2006).

The area in this production license is situated in the southern part of the North Sea and consists of the northern part of block 2/8. The well was drilled around 7 miles (11 kilometers) north of the Valhall field. Well 2/8-18 S is the first exploration well to be drilled in the production license.

The drilling permit is conditional on the operator securing all other permits and consents required by other authorities before the drilling activity commences.

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