Wednesday 5 December 2018

Faroe Petroleum announced the commencement of the Cassidy exploration well 8/10-7 S in the Norwegian North Sea (Faroe 15% working interest).

The Cassidy prospect sits within the PL405 Oda licence (discovered by the partnership in 2011) and is being drilled back-to-back with the production wells on the Oda structure. The well will target a prospect in the same Jurassic Ula Formation as seen in the Oda Field. The co-venturers in the Oda PL405 licence are Faroe (15%), Spirit Energy Norge AS (40% and operator), Suncor Energy Norge AS (30%) and Aker BP ASA (15%).

The total expected vertical depth of the well is approximately 3,056 metres, in a water depth of 66 metres. Drilling operations will be undertaken using the Mærsk Interceptor rig, and the results will be announced on completion of drilling operations.