Faroese Well Suspended Due to Bad Weather
A Statoil-operated well near the Faroe Islands has been temporarily suspended due to fears of bad weather as the region enters its winter season.
The Brugdan II well, which is located around 50 miles between the North Atlantic Ocean and the Norwegian Sea, was spud in June this year and is the second exploration well drilled on Faroese license 006, which covers an area of approximately 220 square miles.
The Faroese authorities have authorized a suspension of the well until the end of 2013, according to a Statoil statement Tuesday.
Statoil Færøyene holds a 50-percent interest in the Brugdan license, while its partner ExxonMobil Exploration and Production Faroe Islands has a 49-percent stake. Faroese junior Atlantic Petroleum holds the remaining one percent.
"Atlantic Petroleum is comfortable with the decision to temporarily suspend the well, as the operations are then able to bypass the harsh weather window. We look forward to the partnership re-entering the well in due course," Atlantic Petroleum CEO Ben Arabo added in a company statement.
Statoil has been operating in the Faroe Islands since the year 2000 and it now holds a significant acreage position with six operated licenses.
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