LONDON (Alliance News) - Faroe Petroleum PLC on Wednesday said work has started on the second Pil/Blue follow-up well at the Blink prospect in the Norwegian Sea.
Faroe owns a 25% stake in the 6406/12-5S exploration well at the site, which has now been spudded.
"I am very pleased to announce the spudding of the Blink exploration which follows on from the Boomerang discovery announced last week. Blink is part of the follow up drilling programme on the significant Pil and Bue discoveries announced in 2014, located in the same licence area and within tie-back distance of the producing Njord field infrastructure," said Graham Stewart, Faroe's chief executive.
Shares in Faroe were up 4.2% to 67.75 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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