An oil and gas discovery has been made on the Pil exploration well, which sits in the Norwegian Sea.
London-based Faroe Petroleum said the Pil well (6406/12-3S) encountered a gross hydrocarbon-bearing reservoir section with about 135m of oil and 91m of gas in the Jurassic reservoir of the Rogn Formation, which proved to be an effective reservoir at the Shell-operated Draugen oil field, located 60km to the north east.
Preliminary results, based on extensive coring, wireline logs and pressure data show that the well has encountered oil and gas in reservoir sands with a very high net to gross ratio. Rocksource, which holds 15% equity in the field, had estimated pre-drill resources at 20-50MM boe.
The vertical depth of the well, drilled using the Transocean Arctic semisubmersible drilling rig is currently 3605m, and operator, VNG Norge is preparing to conduct a drill stem test to determine if a side-track well is to be drilled in order to determine the lateral extent of the Rogn reservoir on this discovery.
“Preliminary assessments of data acquired in the Pil prospect in PL586 in the Norwegian Sea is promising,” Erling Bergfjord, VNG Norge exploration director said. “Now we are really excited about conducting a well test and looking forward to its results.”
The Pil prospect located within tie-back distance (33km) of the Njord platform in which Faroe holds a 7.5% working interest.
"We are very pleased to announce the oil and gas discovery at the Pil prospect and await the results of the production test,” Graham Stewart, chief executive of Faroe Petroleum, said. “This discovery builds on Faroe's position in this prolific part of the Norwegian Sea and we look forward to unlocking further potential on this licence.”
Partners in the Pil prospect are: VNG Norge (operator, 30%); Spike Exploration Holdings AS (30%); Rocksource Exploration Norway AS (15%).
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