Brasse exploration well commences drilling in the Norwegian North Sea

Faroe Petroleum has announced the commencement of the Faroe-operated Brasse exploration well 31/7-1 in the Norwegian North Sea (Faroe 50%). The Brasse prospect is located immediately south of the producing Brage oilfield (Faroe 14.3%) and could be tied-back to the Brage facilities or alternatively to other nearby installations if successful. The well will target the Jurassic aged sandstones in a four-way dip-closed structure with a total vertical depth of approximately 2750 m in the Early Jurassic Statfjord Formation.

The water depth at the site is 118 m and the well will be drilled using the semi-submersible Transocean Arctic drilling rig. The co-venturer in the PL740 licence is Core Energy AS (50%).

Graham Stewart, Chief Executive of Faroe Petroleum commented:

“I am pleased to announce the spudding of the Faroe-operated, Brasse exploration well located in close proximity to our producing Brage oilfield. This is a near field exploration target which provides significant upside potential to Faroe, in one of our core areas. On a post-tax basis the well is expected to cost Faroe less than £2 million.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/24052016/brasse-exploration-well-commences-drilling-in-the-norwegian-north-sea/