UK-based independent oil and gas company Faroe Petroleum has made significant gas discoveries in both the Hades and Iris prospects in licence PL 644 B, located in the Norwegian Sea.
Drilled to a total depth of 4,536m by the Deepsea Bergen semi-submersible drilling rig, the exploration well 6506 / 11-10 targeted two formations, including the Cretaceous Hades prospect and the Jurassic Iris prospect located directly underneath.
Initial results based on coring, wireline logs, fluid sampling and pressure data show that the well has encountered gas / condensate bearing reservoir within both prospects.
The operator and partners have integrated all data from the two discoveries and are considering a follow-up appraisal programme.
Licences PL 644 and PL 644 B are both operated by Austrian oil industry company OMV (Norge) (30%), Faroe Petroleum (20%), with partners Statoil Petroleum (40%) and Spirit Energy (10%).
It is noted that the well will now be plugged and abandoned as planned.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
In the Hades prospect, at a depth of 3,932m, the well encountered a 35m gross gas / condensate column within the Cretaceous Lange Formation, of which 15m are net reservoir sandstones of moderate-to-good reservoir quality.
In Iris, at a depth of 4,223m, the well encountered a 218m, high net-to-gross sandstone interval, within the Jurassic Garn Formation, containing a 93m column of gas / condensate.
Faroe Petroleum chief executive Graham Stewart said: “We are very pleased to announce significant discoveries in both the Hades and Iris prospects; both are well in excess of pre-drill estimates.
“These discoveries are located in one of our core areas and build on Faroe’s already significant position in the Norwegian Sea.
“The Hades and Iris prospects, previously known as Aerosmith and Zappa respectively, have been part of Faroe’s portfolio for many years, forming the main part of a successful APA licence application made in 2009.
“It is extremely gratifying to see both of these prospects delivering significant discoveries, further confirming Faroe’s consistent and industry-leading exploration track record, which has directly and indirectly generated approximately 75% of our 2P reserves.”
The Iris and Hades discoveries are located about 8km to the north of the producing Morvin Field and 20km to the north-west of the Asgard Complex.