Faroe Petroleum receives consent to drill Brasse appraisal well

ABERDEEN -- Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, has announced that all relevant consents have been received for the drilling of an appraisal well 31/7-2S on the Brasse discovery (Faroe 50%).

Faroe, as operator has entered into a contract with Odfjell Drilling for the use of the semisubmersible drilling rig, Deepsea Bergen, for the drilling operations which are expected to commence before the end of this month, with the earliest spud date being on or around May 18, 2017.

The Brasse discovery is located within tie-back distance to existing infrastructure: 13 km to the south of the Brage field platform, in which the Company holds a 14.3% working interest and 13 km to the south east of the Oseberg field centre.

The co-venturer in the Brasse licence PL740 Faroe is Point Resources AS (50%).