FPM7 Mar 2012 08:30
Results of the T-Rex and Bolan exploration well, Norwegian Sea
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, announces that oil was discovered on both the T-Rex and Bolan exploration prospects in the Norwegian Sea (Faroe 30%), on licence PL431 (blocks 6506/12, 6406/2&3 part), but not in commercial quantities.
The 6406/3-9 well, which is the first well to be drilled in the licence, reached a total depth of 4,183m within shales of the Lange Formation. The well targeted Lower Cretaceous sandstones of the Lange Formation (T-Rex) and Lysing Formation (Bolan). T-Rex was the primary target and preliminary results based on extensive coring, wireline logs and pressure data have confirmed the presence of oil, but in a thinner than expected reservoir interval, and the well will therefore not be production tested. Fluid samples were successfully recovered in T-Rex indicating oil of a quality in line with the fluids seen in the original discovery well 6506/11-2 (drilled by Statoil in 1991). The Bolan prospect in the shallower Lysing Formation also encountered an oil column, within an inter-bedded sandstone package. A similar extensive data gathering programme was performed on the Bolan prospect as with T-Rex.
T-Rex and Bolan are situated next to the Statoil operated producing Smørbukk oil fields on the Halten Terrace in the Norwegian Sea. Both the T-Rex and Bolan discoveries extend potentially over very large areas within licence PL431. Additional evaluation is required in order to delineate the areal extent of the oil bearing layers, before any decisions in terms of a further appraisal programme can be made.
The drilling operation was undertaken by Maersk Oil as operator (70% interest), using the Transocean Winner drilling rig, and the well is now being plugged and abandoned.
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