Faroe Petroleum has made an oil and gas discovery in the Brasse exploration well in license PL740 in the Norwegian North Sea, the company said in a news release.
Drilled to a total depth of 2,780 m, the Brasse well encountered about 18 m of gross gas-bearing and about 21 m of gross oil-bearing Jurassic reservoir, which is believed to be analogous to the effective reservoir at the Brage producing oil field about 13 km to the north of Brasse, the release said. Preliminary results based on extensive coring, wireline logs and pressure data show that the well encountered oil and gas in reservoir sandstones of good quality.
The presence of oil and gas was confirmed by fluid sampling.
“This discovery in one of our core areas, builds on Faroe’s already significant position in the Norwegian North Sea via a low cost exploration well,” Faroe Petroleum Chief Executive Graham Stewart said in the release. “If the Brasse drilling results prove a commercial discovery, it could be tied-back to the Brage production facilities or alternatively to other nearby installations.”
Faroe, which holds a 50% interest in the license, serves as the operator. Partner Point Resources holds the remaining 50%.
The partnership has now decided to drill a sidetrack to help confirm both the reservoir distribution and hydrocarbon contacts, Faroe said. Another announcement will be made when drilling activities have been completed.
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