Faroe: Possible Hydrocarbons Found in North Sea Well
Faroe Petroleum announced that the well 6506/9-2 S has now reached the target reservoir on the Fogelberg Prospect (Faroe 15%), and that indications of hydrocarbons have been encountered.
The well was drilled into the mid Jurassic reservoir of the Garn Fm with indications of hydrocarbons based on log response and increased gas levels. As planned, coring of the hydrocarbon bearing zones will now be carried out, which is expected to take up to several weeks. In addition it is planned to undertake extensive data collection in order to perform a full formation evaluation.
Partners in the well are Centrica Resources Norge AS ("Centrica") (operator 28%), Petro-Canada Norge AS, (30%) E.ON Ruhrgas Norge AS (15%) and North Energy AS (12%). The drilling operation is being undertaken by the operator Centrica using the West Alpha semi-submersible drilling rig.
Situated in approximately 280m water depth, Fogelberg (license PL433) is a substantial prospect, located within a rotated fault block some 10 kilometres to the north of the Statoil operated producing Åsgard Field complex, within the Norwegian Sea. The structure is similar to the recent Statoil operated Morvin oil and gas discovery, located 10 kilometres to the south west, which was successfully appraised in 2006 by Statoil and is expected to come on stream towards the end of 2010.
Faroe Petroleum was awarded this license in 2007, as one of its first Norway licenses. This represents one of many licenses identified and won on the basis of Faroe Petroleum's own original technical work.
Graham Stewart, Chief Executive of Faroe Petroleum plc, commented, "We are very pleased to announce the successful drilling of the Fogelberg Prospect and the promising findings so far. Alongside our partners Centrica, E.ON Ruhrgas and Petro Canada, we look forward to the coring and evaluation results and to making a further announcement thereafter."
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension