Faroe Islands well is indicated discovery

An Eni SPA affiliate and Faroe Petroleum PLC found signs of an active petroleum system in the 6004/8a-1 exploratory well off the Faroe Islands on the Atlantic margin.

By OGJ editors
HOUSTON, Nov. 1
– An Eni SPA affiliate and Faroe Petroleum PLC found signs of an active petroleum system in the 6004/8a-1 exploratory well off the Faroe Islands on the Atlantic margin.

The well on the Anne Marie prospect went to 3,901 m in 1,106 m of water on License 005 about 190 km southeast of Torshavn.

Faroe Petroleum said, “Hydrocarbons have been found in thin sandy layers dispersed in a thick volcanoclastic sequence of Paleocene age, indicating robust evidence of the presence of an active petroleum system. Further analyses are in progress to evaluate the size and the characteristics of the discovery.”

The companies are encouraged enough to continue exploring the license despite the absence of thick reservoir sands, Faroe Petroleum said.

The joint venture is made up of Eni Denmark BV, operator with 25% participating interest, Dana Petroleum 25%, OMV 20%, Cieco E&P (Faroe) Ltd. and Faroe Petroleum 12.5% each, and First Oil Expro 5%.

Meanwhile, a Chevron affiliate has spudded the Lagavulin exploration well in the UK Atlantic margin west of the Shetland Islands. The Stena Carron drillship is drilling the well 230 km northeast of Chevron’s Rosebank/Lochnagar discovery (OGJ, Aug. 20, 2007, p. 38).

Lagavulin, which lies across blocks 217/10 and 210/14 and 15, will target several potential oil-bearing reservoirs of Precretaceous to Paleocene age in a large, elongated four-way structural closure. Drilling time is estimated at 120 days. Faroe Petroleum holds a 10% interest in the well.

Faroe Petroleum noted that it holds 44 licenses as the result of having added four northern seas licenses in the UK 26th license round.

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