Faroe Petroleum starts drilling Norwegian field

Faroe Petroleum started exploring the Kvalross well in Norway.

Licence PL611, which contains the Kvalross prospect, is located in the Norwegian Barents Sea to the south of gas company OMV’s significant Wisting and Hanssen oil discoveries. The well will test two independent targets, namely: the Kvalross prospect with significant oil and gas resource potential within Lower Triassic Klappmyss Formation clinoform reservoir; and the Kvaltann prospect which has additional oil potential within a Mid-Late Triassic Snadd Formation channel.

Graham Stewart, Chief Executive of Faroe Petroleum commented:

“We are very pleased to announce the spudding of the Kvalross well which is the first of three exploration wells in Faroe’s drilling programme for 2016 in Norway. This well will test two independent structures in a highly prospective area in the Norwegian Barents Sea. Kvalross is on trend with and just to the South of OMV’s significant Wisting and Hanssen discoveries and will use the same rig as was used to make the Pil and Bue discoveries last year.