Faroe Petroleum Receives Consent for Exploration Drilling

Wednesday 17 May 2017

Faroe Petroleum Norge AS (Faroe) is the operator for production licence 740. The licence covers blocks 31/7 and 30/9, east of the Oseberg field in the North Sea.

Faroe has made a discovery named Brasse in well 31/7-1, and now wishes to drill two appraisal wells designated 31/7-2 and 31/7-3. Sidetracks may be drilled from both the wells.

Faroe has received our consent for the drilling.

The two wells' geographical coordinates will be:

60o 24' 22.01" N and 60o 26' 53.84" N

03o 01' 58.46" E and 03o 01' 44.69" E

The drill sites are around 97 kilometres west of Øygarden in Hordaland county. Water depth in the area is 119 metres.

Drilling will begin on 1 June 2017 at the earliest and last 72 days for each well, including possible sidetracks.

The wells are to be drilled by Deepsea Bergen, which is a semi-submersible drilling facility of the Aker H-3.2 type, owned and operated by Odfjell Drilling. It was built at the Hyundai yard in South Korea in 1983, is classified by DNV GL and registered in Norway.

Deepsea Bergen was issued with an Acknowledgement of Compliance (AoC) by the PSA in December 2001.

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