NPD Grants Faroe Petroleum Drilling Permit for Well 31/7-1 A

The Norwegian Petroleum Directorate has granted Faroe Petroleum Norge AS a drilling permit for well 31/7-1 A, located offshore Norway.

Well 31/7-1 A will be drilled from the Transocean Arctic (mid-water semisub) drilling facility in production license 740. Faroe Petroleum Norge AS is the operator of the license with an ownership interest of 50 percent. Core Energy AS is a licensee holding the remaining 50 percent stake.

The area in this licence consists of parts of blocks 31/7 and 30/9. This is the first well to be drilled in the license. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.



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