Aberdeen-based oil group Faroe Petroleum has enjoyed a successful start to its 2014 exploration campaign after finding gas in the Norwegian Sea.
The Atlantic-margin focused firm said it had found a 91m column of gas and 135m oil reservoir after drilling at the Pil Well.
The site, which sits 60km south-west of Shell’s Draugen field, is now being tested to confirm the full extent of the find.
Preliminary results from Pil, which was rilled using the Transocean Arctic rig, have revealed a ‘very high’ net to gross roil and gas ratio, the company confirmed.
The VNG-operated licence, which Faroe holds a 25% stake in, is the first of three wells currently being drilled to yield results.
“We are very pleased to announce the oil and gas discovery at the Pil prospect and await the results of the production test,” said Faroe chief executive Graham Stewart.
“This discovery builds on Faroe’s already significant position in this prolific part of the Norwegian Sea and we look forward to unlocking further potential on this licence.
“Pil is one of three exploration and appraisal wells we are drilling concurrently in our continuing high impact exploration and appraisal programme. The two other wells currently drilling are the Solberg well, on the Halten Terrace, and the Butch East well, adjacent to the Butch Main discovery in the Norwegian North Sea.
“Results are expected on Solberg and Butch East in the coming weeks.”
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