Faroe prepares for North Sea well

The Norwegian Petroleum Directorate (NPD) has granted Faroe Petroleum a drilling permit for a well in the North Sea offshore Norway. 

The well 30/6-30 located in the Rungne prospect will be drilled from the Transocean Arctic drilling rig after concluding the drilling of wildcat well 35/11-21 A for Wellesley Petroleum in production license 248 I.

The drilling program for well 30/6-30 relates to the drilling of a wildcat well in production licence 825 where Faroe Petroleum Norge is the operator with an ownership interest of 40 per cent.

Other licensees are Lundin Norway (30 per cent) and Spirit Energy Norge (30 per cent). The area in this license consists of the northern part of block 30/6 and the southern part of block 30/3. The well will be drilled about 7 km north of the Oseberg field.

Production license 825 was awarded on February 15, 2016 (APA 2015). This is the first well to be drilled in the license.

Faroe announced its plans to drill the Rungne well using the Transocean Arctic rig back in August. Following the completion of this well, Faroe will move the rig to drill its Brasse East well, hoping to add further incremental reserves to the existing 2P reserves of 30.7 mmboe (net to Faroe) for the planned Brasse field development. The unrisked gross resources targeted are 12.5 mmboe.