Faroe Petroleum said today that appraisal drilling on a Norwegian North Sea well had begun.
The Njord North Flank-2 exploration well, located in about 323 metres of water, is operated by Statoil − which holds a 20% stake − using the Songa Delta drilling rig.
Other project partners include, Engie, with 40%, DEA, on 30% and VNG Norge, with 2.5%.
AIM-listed Faroe has a 7.5% working interest in the field.
Graham Stewart, chief executive of Faroe, which has offices in Aberdeen, London and Stavanger, said: “I am pleased to announce the spudding of the Njord North Flank-2 exploration well located in the Greater Njord Area, and in close proximity to the Njord field.
“NF-2 is a near-field exploration target, which provides further upside potential to Faroe in one of our core areas.
“If successful this will add another tie-in opportunity to the Greater Njord Area and the Njord Future Project, which also includes the high quality Snilehorn discovery.
“The NF-2 exploration well follows on from the significant Faroe operated Brasse oil and gas discovery well and side-track announced last month.”
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