Rodriguez Well Makes 'Significant' Gas Condensate Discovery

Faroe Petroleum and the Norwegian Petroleum Directorate reported Thursday that it a significant gas condensate discovery has been confirmed at the secondary target of the Rodriguez exploration well in the Norwegian Sea. Faroe reported that the operator's preliminary volumetric estimates of the size of the discovery are between 19 and 126 million barrels of recoverable oil equivalent.

The 6407/1-6S exploration well, which is on the PL475 license operated by Wintershall Norge, was drilled around 2.5 miles northeast of the Tyrihans field and about five miles southeast of the 6406/3-8 oil/gas discovery, the NPD said.

Faroe said that the 6407/1-6S well is the first exploration well to be drilled on the Rodriguez license and that further appraisal will be required to establish the lateral extent and size of the discovery.

"We are very pleased to announce this gas condensate discovery on the secondary target of this Norwegian Sea exploration well. This significant discovery gives the partnership a good indication of further upside potential on the rest of the licence block with at least two further matured and partially de-risked prospects and we look forward to its further appraisal," Faroe Petroleum Chief Executive Graham Stewart commented in a company statement.

"We have an active 2013 exploration drilling programme which includes several high impact exploration wells including Darwin (Barents Sea), Novus (Norwegian Sea) and two Butch wells (Norwegian North Sea)."

The well was drilled by the Transocean Arctic (mid-water semisub) rig, which the NPD said will now proceed to production license 418 in the northern part of the North Sea to drill appraisal well 35/9-8.




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