Faroe Petroleum: Oil, Gas Discovery Made in Norwegian Sea

An oil and gas discovery has been made at the Njord North Flank in the Norwegian Sea, says independent oil and gas company Faroe Petroleum.  

The NF-2 exploration well 6407/7-9 S, which was drilled to a total depth of 13,467 feet below sea level, encountered 334 feet of gross oil-bearing reservoir in Middle and Lower Jurassic sandstones of the Ile and 515 feet of gross gas condensate-bearing column in Lower Jurassic sandstones in the Tilje formation.

Based on these results the partnership, which includes Statoil, decided to drill the NF-3 side-track well to test a fault-block lying to the east, which ended at a total depth of 13,540 feet below sea level. The well encountered 639 feet of gross gas-bearing column in the Tilje Formation. In addition, 459 feet of gross gas-bearing column were encountered in Lower Jurassic sandstones in the Åre Formation. No hydrocarbons were encountered in the Ile Formation in NF-3.

A preliminary estimate of the size of the NF-2 discovery is between 1.3 and 18.9 million barrels of oil equivalent, with the NF-3 side track between 0.6 and 9.4 mmboe.

“We are pleased to announce this oil and gas discovery on the Njord North Flank, Faroe’s second discovery of the year, following our significant Brasse oil and gas find announced in summer, which is also located very close to infrastructure,” said Faroe Chief Executive Graham Stewart.

“We look forward to Faroe’s continuing exploration program. Next up is the high impact exploration well on the Dazzler prospect (Faroe 20 percent) located in the Barents Sea. Dazzler will be operated by Eni and is scheduled to spud around year end,” he added.

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