Wednesday 21 November 2018

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announced the commencement of the Faroe-operated Brasse East exploration well 31/7-3 S in the Northern North Sea (Faroe 50% working interest).

The Brasse East well is being drilled immediately east of the Brasse field (discovered by Faroe in 2016 and appraised in 2017) which in turn is located to the south of the Brage field and to the south east of the Oseberg field. At the end of 2017, the Brasse field development feasibility study phase was completed, confirming several economically attractive development solutions and export routes. Concept studies are currently progressing according to plan. The co-venturer in the Brasse PL 740/PL 740 B/PL 740 C licences is Point Resources AS (50%).

The total expected vertical depth of the well is approximately 2,271 metres, in water depth of 124 metres. Drilling operations will be undertaken using the semi-submersible Transocean Arctic rig. The results will be announced on completion of drilling operations.