Faroe Bags Maersk Guardian for Clapton Prospect
Faroe Petroleum has secured a contract for the use of the Maersk Guardian jackup to drill the Clapton prospect in late 2011 or early 2012. Faroe has received approval from the Norwegian authorities and its license partners to serve as the operator of license PL 440S where the Clapton exploration well has been committed, stated the company in a press release.
Additionally, the company has increased its stake in the license from 20% to 40%, with the remaining co-ventures being Det norske, decreasing its stake from 30% to 10%, Norwegian Energy Company (12%), Lundin (18%), and Dana (20%). Awarded in 2006, this license is located in a prolific area nearby existing oil fields, Ekofisk, Valhall and Eldfisk, containing 6 to 7 billion boe reserves.
The Clapton prospect is formed on the edge of a salt induced structure referred to as the Mode Dome, previously explored in the 1980s. The main targets in the structure are the Upper Cretaceous Hod, Tor and Ekofisk formation, a proven reservoir in the Central Graben. The reservoir contains good flow properties through the matrix, as well as secondary fracture network development, according to Faroe.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
- Drilling of Well at Fogelberg Gas Discovery to Start in Feb/March -Centrica (Sep 01)
- Japan's JX To Sell North Sea Oil Field Stake To Faroe Petroleum (Jul 28)
- Faroe: Bone Exploration Well in Barents Sea Spud (Jan 12)