Faroe Petroleum reports preliminary results of Fogelberg appraisal well

April 10, 2018

LONDON -- Faroe Petroleum has provided an update with preliminary results of the Fogelberg appraisal well in the Norwegian Sea (Faroe 15%).

Highlights

  • Successful appraisal well on the Fogelberg discovery, confirming reservoir sequence and lateral extent
  • Reservoir quality is better than that seen in the original discovery well, 6506/9-2 S, with a deeper gas-water contact
  • Drill stem test (DST) to be performed to confirm well and reservoir productivity
  • A further update on potential recoverable volumes and results of the production testing, will be made, after the completion of the appraisal well and the drill stem test.

The Fogelberg appraisal well (6506/9-4 S) has been drilled to a total depth of 4,738 m; targeting the gas and condensate bearing Middle Jurassic Garn and Ile formations in order to assess the lateral and down-dip extent of the discovery and firm up the resource range. The appraisal well successfully penetrated the Garn and Ile formations, encountering 62.5 m of gross hydrocarbon-bearing Garn reservoir. Gas was also logged in the Ile formation. Preliminary results based on extensive coring, wireline logs, pressure data and fluid sampling show that the well has confirmed gas and condensate in a sand-rich reservoir. The reservoir quality is better than that seen in the original discovery well, 6506/9-2 S, and when combined with a confirmed deeper gas-water contact has led the partnership to the decision to carry out a drill stem test (DST) to confirm well and reservoir productivity. A further update on potential recoverable volumes, together with the results of the DST, will be made once completed.

Fogelberg is located 18 km north of the producing Åsgard Complex, where large quantities of gas and condensate have been and continue to be produced and transported to several landing points on the European continent.

The Fogelberg appraisal well is being drilled with the Island Innovator semisubmersible drilling rig, and the joint venture partners are Spirit Energy Norge AS (operator 51.7%), PGNiG Upstream Norway AS (20%) and Dyas Norge AS (13.3%).

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