Tuesday 12 September 2017

Norway-focused explorer has Wellesley Petroleum has failed to find pay with an exploration well on the Goanna prospect in the Norwegian North Sea.

Well partner Faroe Petroleum revealed Tuesday the 33/9-22 S well had reached a total depth of 2730 metres, encountering about 49 metres of gross water bearing reservoir in the primary target Upper Jurassic Munin formation sandstones.

“While we are disappointed that no hydrocarbons were present in the Goanna prospect, the well provides important new data and information which will allow further evaluation of this new area for Faroe, and in addition the company’s associated drilling costs have been fully covered,” Faroe chief executive Graham Stewart said.

The well was drilled using Odfjell Drilling’s semi-submersible Deepsea Bergen and was Wellesley’s first operated well since the Blue Water Energy-backed company was launched two years ago.

Goanna lies in PL 881 near the border with the UK and adjacent to the giant producing Statfjord and Snorre fields.

Wellesley holds a 70% interest in the licence with Faroe holding the remaining 30% equity.