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Statoil concluded drilling at Brugdan II

STAVAGER, Norway -- Drilling of the Brugdan II Re-Entry well in licence 006 offshore the Faroe Islands has concluded. The well will now be plugged and abandoned. It was drilled to 4542 m and resulted in a dry well.

The well is located 130 km offshore the Faroe Islands and was respudded in May 2014. It was drilled using the West Hercules semi-submersible rig in a water depth of 450 m.

This is the second exploration well that has been drilled in licence 006 which covers an area of approximately 579 sq km.

Statoil has been in the Faroe Islands since 2000 and holds a significant acreage position with four operated licences. The licences are basalt-covered and target multiple and diverse plays.

Statoil' s position in the Faroe Islands is in line with the company' s exploration strategy of early access at scale and establishing a leading position in frontier areas.

Partners in licence 006 are: Statoil 35% (operator), ExxonMobil 49%, OMV 15% and Atlantic Petroleum 1%.

West Hercules will now move on to licence 008 in the Faroe Islands, where Statoil also is operator, to drill the Sula/Stelkur well.



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