Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced the results of the Blink exploration well in the Norwegian Sea (Faroe 25%).
The objective of well 6406/12-5 S was to test the hydrocarbon potential of the Upper Jurassic reservoirs analogous to the Pil, Bue, Boomerang and Draugen field reservoirs. The well encountered a 557 metre gross section of Upper Jurassic sandstone following a technical sidetrack (6406/12-5 S T2). The well reached a total vertical depth of 3710 m below sea level and preliminary analysis from wireline logs, pressure and fluid sampling shows that the well encountered clean water-wet sandstones with good reservoir properties but with no indications of hydrocarbons.
The 6406/12-5 S (Blink) well was drilled on the Halten Terrace, approximately 27 kilometres south west of the Njord field and five kilometres north east of the Pil discovery well. Well 6406/12-5 S followed on directly from the Boomerang exploration well which encountered a 26 m gross Upper Jurassic intra-Spekk/Rogn sandstone containing estimated recoverable resources of between 13 and 31 million boe.
Graham Stewart, Chief Executive of Faroe Petroleum commented: “Whilst the results of the Blink well, the last in this year’s campaign, are disappointing we look forward to advancing the options for monetising the significant combined Pil, Bue and Boomerang discoveries, on which the Blink well result has no bearing. The Company continues to perform very well despite continuing low oil prices, with low operating costs, a good cash position and strong production rates.”
Stewart continued: “Faroe’s consistent strategic focus and prudent approach to financial management have ensured that we have a strong balance sheet and are well placed to progress our portfolio work programme and take advantage of further good quality emerging opportunities.”
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/03112015/blink-exploration-well-in-the-norwegian-sea-1536/