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NPD grants drilling permit to Faroe Petroleum

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Oilfield Technology,

Well 31/7-1 A will be drilled from the Transocean Arctic drilling facility at position 60°25'31.55"N and 3°1'28.23"E in production licence 740.

The drilling programme for well 31/7-1 A relates to the drilling of an appraisal well. Faroe Petroleum Norge AS is the operator with an ownership interest of 50% and Core Energy AS is a licensee with 50%.

The area in this licence consists of parts of blocks 31/7 and 30/9. Production licence 740 was awarded in APA 2013, 7 February 2014. This is the first well to be drilled in the licence.

The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

Adapted from a press release by Louise Mulhall

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