Faroe Petroleum has successfully side-tracked its appraisal well on the Brasse discovery in licence PL740 in the Norwegian North Sea.
The side-track well (31/7-1A) was appraising the south-eastern part of the Brasse discovery. Results based on extensive coring, wireline logging and sampling show that the well has encountered oil and gas in good quality Jurassic reservoir sandstones, similar to those seen in the main well, and provide important information about the reservoir distribution in Brasse.
It reached a total depth of 2530m and encountered a 25m oil column and a 6m gross gas column.
Total gross volumes of recoverable hydrocarbons are estimated to be 28-54 MMbbl of oil and 89-158 Bcf of gas (43-80 MMboe in aggregate).
The Brasse discovery well (31/7-1) encountered approximately 21m of gross oil-bearing and approximately 18m of gross gas-bearing Jurassic reservoir. The reservoir is of good quality and believed to be analogous to the effective reservoir at the Brage producing oil field (Faroe 14.3%).
The Brasse discovery is within tie-back distance to existing infrastructure: 13km to the south of the Brage field platform, in which Faroe holds a 14.3% working interest, 13km to the east of the Oseberg Sør field platform, and 13km to the south east of the Oseberg field platform. Faroe and its co-venturer (Point Resources (50%)) will now begin assessing options for this discovery, in one of Faroe’s core areas in the Norwegian North Sea.
Graham Stewart, Chief Executive of Faroe Petroleum, commented: “We are very pleased to announce the results of this successful side-track appraisal well on the Brasse discovery, which proves the hydrocarbon and reservoir distribution found in the main discovery well and delineates the lateral extent of the discovered area. This discovery, in one of our core areas, builds, via this low cost exploration and appraisal well, on Faroe’s already significant position in the Norwegian North Sea. Work will now begin on assessing options for monetizing this important new asset, given its significant resource estimates and close proximity to existing infrastructure.”