Faroe Petroleum Spuds Pil Exploration Well in the Norwegian Sea

Source: www.gulfoilandgas.com 1/21/2014, Location: Europe

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, is pleased to announce the spudding of the VNG-operated Pil exploration Pil exploration well 6404/12-3S (Faroe 25%).

The Pil prospect (Licence PL 586) is located within tie-back distance (33 kilometres) to the Njord platform in which the Company holds a 7.5% interest. The prospect is a combined structural and stratigraphic closure and the primary target is at the shallower upper Jurassic Rogn formation sandstone which has proved to be an effective reservoir in the producing Draugen field, located 60 kilometres to the north east.

The Pil licence drilling operations are operated by VNG Norge AS (30%) using the Transocean Arctic drilling rig with partners Spike Exploration Holdings AS (30%) and Rocksource Exploration Norway AS (15%).

Graham Stewart, Chief Executive of Faroe Petroleum commented:
“We are pleased to announce the spudding of the Pil exploration well which, as with our recently discovered Snilehorn oil discovery, is another exciting exploration prospect located in the Greater Njord Area. Pil is situated in close proximity to the Njord hub facilities, which act as host to the Hyme field, and is also likely to host the significant Snilehorn oil field and potentially further yet to be discovered fields in the vicinity.

“Pil is the third well in our 2014 exploration programme. This exciting exploration campaign commenced with the Butch East well (Faroe 15%), currently drilling, close to the producing Ula, Tambar and Gyda oil fields and continues with the Novus well, currently drilling, close to the producing Heidrun oil field, operated by Statoil. Pil follows the significant Snilehorn discovery announced in November 2013. Following these wells, we also look forward to the drilling of the Solberg (Faroe 20%) and Butch South West (Faroe 15%) prospects, also in Norway.

“With material equity stakes held in a portfolio of excellent quality licences across the prolific North Sea, Norwegian Sea and Barents Sea in Norway, Faroe Petroleum has the real potential to generate considerable shareholder value through our sustained programme of exploration and appraisal drilling.”


Argentina >>  4/12/2021 - President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in South America, has provided an...
Colombia >>  4/12/2021 - Gran Tierra Energy has announced an operations and financial update. All dollar amounts are in United States dollars and all production volumes are on...

Israel >>  4/12/2021 - Zion Oil & Gas, Inc. (ZNOG) announces its successful drilling of the second section of the Megiddo-Jezreel #2 (MJ-02) well and launches a new Unit Pro...
Norway >>  4/12/2021 - The Norwegian Petroleum Directorate (NPD) has granted Equinor Energy a drilling permit for wilcat wells 35/11-25 S and 35/11-25 A, in production licen...

United Kingdom >>  4/12/2021 - Independent Oil and Gas (IOG), the UK gas company targeting high returns via an infrastructure-led hub strategy, has announced the spudding of the Elg...
Ukraine >>  4/9/2021 - Enwell Energy plc (ENW), the AIM-quoted oil and gas exploration and production group, provides an update on its operational activities in Ukraine, whe...

Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.