Faroe Petroleum has started drilling Brasse appraisal well 31/7-2S in the Norwegian North Sea, which it owns a 50% stake in and has operatorship.
In July last year, the company made Brasse oil and gas discovery in PL740 where the main wellbore 31/7-1 encountered an 18m gross gas column and a 21m gross oil column in the Jurassic reservoir.
Faroe estimates total gross volumes of recoverable oil equivalents from the resource to be 28 milion to 54 million barrels of oil, and 89 billion to 158 billion cubic feet of gas.
Faroe Petroleum chief executive Graham Stewart said: “Brasse is one of Faroe’s most significant discoveries to date, and was the largest discovery in the Norwegian North Sea in 2016.
“Faroe is now actively investing in pre-development and development of several of its own discoveries, each of which has the potential to transform the value of the company in the coming years.”
Primary objectives of the newly spud appraisal well are to reduce the uncertainty in reserves estimates, in addition to delivering more information for the development project.
It will target a seismic anomaly 2km south-east of the main discovery well.
The company will use Odfjell Drilling’s submersible drilling rig, Deepsea Bergen, to carry out the drilling operations.
Later this year, Faroe intends to drill the second appraisal on the Brasse discovery in cooperation with licence partner Point Resources, based on the latest drilling results.
Faroe will also use the results to analyse prospectivity of the recently awarded Brasse Extension area before making a drill decision scheduled next year.