Faroe Islands

No commercial oil or gas volumes were proven at the Brugdan 6104/21-1 well in License 006 in the Atlantic south of the Faroe Islands, said operator Statoil.

Oct. 17, 2006

By OGJ editors

HOUSTON, Oct. 17 -- No commercial oil or gas volumes were proven at the Brugdan 6104/21-1 well in License 006 in the Atlantic south of the Faroe Islands, said operator Statoil.

The well, drilled to TD 4,201 m in 480 m of water, found only traces of gas. It did reveal useful knowledge about drilling in volcanic subbasalt rock that will be helpful in future exploration off the Faroes, Statoil said.

Brugdan is 70 km northwest of Chevron Corp.-operated Rosebank oil field, a 2004 discovery under development in which Statoil has a 30% interest.

The Faroe authorities plan a third licensing round for autumn 2007.

After applying to drill deeper than the originally planned 3,780 m, Statoil had to abandon the well early due to technical problems.

Participants in the well are Statoil 27.15%, DONG 21.91%, Anadarko Petroleum Corp. 13%, Shell-Enterprise Oil 12.47%, Hess Corp. 11.09%, BG Group 10.31%, Faroe Petroleum 4.04%, and Atlantic Petroleum 0.03%.