Offshore

Faroe Petroleum said appraisal drilling on a well in the Norwegian Sea has encountered more oil, with a second well planned in the coming days.

The Pil side-track well (6406/12-3 B) has reached a total depth of 3,996m below sea level.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Initial results from the appraisal well indicate a hydrocarbon-bearing reservoir section with approximately 80m of oil in the Upper Jurassic reservoir of the Rogn Formation.

The company revealed on 6 March 2014 that Pil’s discovery well encountered a gross hydrocarbon-bearing reservoir section with approximately 135m of oil and 91m of gas.

The subsequent drilling generated a stable flow rate of 6,710 barrels of light crude oil per day, which Faroe says has provided clear evidence of a prolific reservoir.

See Also:

The second well will test for oil in the separate Bue prospect, which the company says has the potential to add further volumes to the Pil project.

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.

Company Profile – free sample

Thank you!

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 form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
"The second well will test for oil in the separate Bue prospect, which the company says has the potential to add further volumes to the Pil project."

Faroe owns 25% of the Pil project, with Spike Exploration and VNG Norge holding 30% each while the remaining 15% is held by Rocksource Exploration Norway.

Faroe Petroleum chief executive Graham Stewart said: "The successful well result on this Pil appraisal side-track adds further value to Faroe’s already substantial position in this prolific part of the Norwegian Sea, and we aim to unlock further potential in this exciting core area.

"In the near term we look forward to reporting results from exploration drilling on both the nearby Bue prospect (Faroe 25%) and the Butch South-West prospect (Faroe 15%) in the Norwegian North Sea."

Image: The Pil side-track well (6406/12-3 B) has reached a total depth of 3,996m below sea level. Photo: courtesy of Faroe Petroleum.

Energy link