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Faroe confirms start of Brasse East exploration well

Wed, 21st Nov 2018 14:33

(Sharecast News) - Independent oil and gas company Faroe Petroleum announced the start of the Faroe-operated Brasse East exploration well 31/7-3S in the Northern North Sea, where it has a 50% working interest, on Wednesday.The AIM-traded firm said the Brasse East well was being drilled immediately east of the Brasse field, discovered by Faroe in 2016 and appraised in 2017, which in turn was 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, which Faroe said confirmed several economically attractive development solutions and export routes.Concept studies were currently progressing according to plan, with co-venturer Point Resources, which holds 50%.The total expected vertical depth of the well would be around 2,271 metres, in water depth of 124 metres.Drilling operations would be undertaken using the semi-submersible Transocean Arctic rig, with Faroe confirming that the results would be announced on completion of drilling operations."I am pleased to announce the spudding of the Faroe-operated Brasse East exploration well which is immediately adjacent to the Faroe-operated Brasse field," said Faroe Petroleum chief executive officer Graham Stewart."Brasse East offers upside potential for the Brasse field development as well as potential to unlock additional exploration upside to the north east of the Brasse field."Faroe's active exploration programme is continuing over the coming period, with the Cassidy well preparing for drilling later this year plus a further two wells committed for the first half of 2019."
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11 Sep 2015 13:21

Faroe Petroleum plugs and abandons Portrush well

(ShareCast News) - Oil and gas company Faroe Petroleum said the Portrush exploration well in the Norwegian North Sea has been plugged and abandoned after no hydrocarbons were encountered. Faroe said this was the first well to be drilled in the production licence in the Grimsan Basin, around 20 kilom

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11 Sep 2015 07:10

REPEAT: Faroe Petroleum And Shell Fail To Find Hydrocarbons In Portrush Well

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11 Sep 2015 06:28

Faroe Petroleum And Shell Fail To Find Hydrocarbons In Portrush Well

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9 Sep 2015 11:18

UPDATE 1-Norway sees dip in oil firms applying for drilling permits

(Adds energy minister's quote, background) OSLO, Sept 9 (Reuters) - A total of 43 oil firms have asked for drilling permits in Norway's annual licensing round in so-called mature areas of its continental shelf, down from 47 last year, the country's Oil and Energy Ministry said on Wednesday.

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9 Sep 2015 10:17

Norway says 43 firms applied for drilling permits in mature areas

OSLO, Sept 9 (Reuters) - A total of 43 oil firms have asked for drilling permits in Norway's annual round of license awards in so-called mature areas of its continental shelf, down from 47 last year, the country's Oil and Energy Ministry said in a statement. Statoil, BP and Royal Dutch Shel

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1 Sep 2015 14:20

Faroe Petroleum increases stakes in North Sea projects

(ShareCast News) - Oil and gas explorer Faroe Petroleum has increased its share in two gas fields in the North Sea, after agreeing to acquire Roc Oil in a deal worth to $20m. Under the agreement, Faroe will take control of Roc's 12.5% stake in the Blane field and of the group's 12% stake in the Enoc

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1 Sep 2015 07:29

Faroe Petroleum Ups Stake In North Sea Fields For USD20.0 Million

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26 Aug 2015 11:11

Faroe Petroleum begins drilling at Portrush well in Norwegian Sea

(ShareCast News) - Faroe Petroleum has begun drilling the Portrush exploration well in the Norwegian Sea, in which it holds a 20% stake. The licence is located south east of the producing Statoil-operated Njord field, in which Faroe owns a 7.5% stake and west of the Shell-operated Draugen field. Ch

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26 Aug 2015 07:40

Faroe Petroleum Says Drilling Starts At Portrush Well In Norwegian Sea

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