Successful Fogelberg Drill Stem Test

Friday 29 June 2018

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announced a successful sidetrack well (6506/9-4 A) and successful production test (‘Drill Stem Test’, ‘DST’) following the drilling of the downdip appraisal well (6506/9-4 S) on Fogelberg located in the Norwegian Sea (Faroe 15%).

The Fogelberg discovery has now been successfully appraised confirming sufficient well productivity and reservoir connectivity capable of delivering commercial rates from the planned horizontal gas producers.

Highlights

- Successful sidetrack and successful production test in well 6506/4 A

- The sidetrack well penetrated 58 metres of gross hydrocarbon-bearing Garn sand-rich reservoir and 87 metres of gross hydrocarbon-bearing Ile reservoir

- During the DST, the well flowed at a maximum constrained and stable rate of 21 mmscf per day and condensate at 547 bpd (aggregate 4,047 boepd) on choke 22/64” for 24 hours with no signs of depletion

- Fluid sampling on the rig during the DST confirmed both high quality gas and condensate and a condensate yield in the expected range. The fluid samples will also be used to refine the design basis for the planned subsea tie-back to Åsgard B

- An update on the volumetrics will be provided after the newly acquired data has been fully interpreted and incorporated into an updated Fogelberg reservoir model. However, preliminary analysis suggests a resource range of 40-90 mmboe gross

- Development planning studies for the Fogelberg subsea tie-back to the Åsgard B host are expected to start in H2 2018

The sidetrack well, located 0.8 kilometres from the initial wellbore and 1.7 kilometres from the discovery well, was drilled to a total depth of 4,497 metres, targeting the gas- and condensate-bearing Middle Jurassic Garn and Ile formations. The main objectives were to assess the productivity of the Garn Formation and to firm up the resource range for a commercial development.

Fogelberg is located 18 kilometres north of the producing Åsgard Complex, where large quantities of gas and condensate have been and continue to be produced and transported to several landing points on the European continent.

The Fogelberg appraisal well was drilled with the Island Innovator semi-submersible drilling rig, and the joint venture partners are Spirit Energy Norge AS (operator 51.7%), PGNiG Upstream Norway AS (20%) and Dyas Norge AS (13.3%). The appraisal well will now be plugged and abandoned as planned.

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