Faroe: Bone Exploration Well in Barents Sea Spud

Independent oil and gas firm Faroe Petroleum announced Thursday the commencement of the Boné exploration well 7318/12-1, which is located in the western part of the Norwegian Barents Sea.

The primary targets for the well are the Jurassic Stø and Nordmela sandstones, with a secondary target within the Triassic Fruholmen and Snadd sandstone formations.

Faroe Petroleum also revealed that the PL740 License partners have committed to the drilling of an appraisal well on the Brasse discovery in mid-2017.

The Brasse oil and gas discovery was announced in July 2016. The main wellbore 31/7-1  encountered an 59-foot gross gas column and a 68-foot gross oil column, and the sidetrack well (31/7-1A) encountered a 19-foot gross gas column and 82-foot gross oil column, with both wells encountering good quality Jurassic reservoir.

Total gross volumes of recoverable hydrocarbons have been estimated by the Company to be 28-54 million barrels of oil and 89-158 billion cubic feet of gas (43-80 million barrels of gross oil equivalent in aggregate).

“We are very pleased to announce the spudding of Boné, our first exploration well in 2017,” Graham Stewart, chief executive of Faroe Petroleum, said.

“We are also pleased to announce the forthcoming appraisal well on the Brasse license which will serve to mature this discovery towards development. Together with Point Resources we are progressing feasibility studies which will be ongoing in parallel with the appraisal project,” he added.

Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  CNOOC Commences Production from Enping... (Jan 18)
 -  Statoil Granted Drilling Permit for We... (Jan 18)
 -  Gazprom Chairman, Moldova President Di... (Jan 18)
 -  Eni: Oil, Gas Discovery in Norwegian S... (Jan 17)
 -  Tullow Finds Oil in Kenyan Erut-1 Well (Jan 17)

Most Popular Articles

From the Career Center
Jobs that may interest you
Drilling Engineer II Job
Expertise: Drilling Engineering|Petroleum Engineering
Location: Houston, TX
Drilling Engineer
Expertise: Drilling Engineering
Location: Tulsa, OK
3rd, 2nd, Chief Engineer Marshall Islands
Expertise: Motorman
Location: Houma, LA
search for more jobs

Brent Crude Oil : $55.47/BBL 0.69%
Light Crude Oil : $52.48/BBL 0.30%
Natural Gas : $3.41/MMBtu 0.29%
Updated in last 24 hours