Alliance News: Faroe Petroleum Makes New Gas Discovery At Solberg
Faroe Petroleum PLC Thursday said it has made a new gas discovery at its Solberg site and has successfully drill stem tested an exploration well at its Njord production facility in the Norwegian Sea.
The oil and gas company, with operations in Norway, the Atlantic margin and the North Sea, said its Solberg exploration well 6407/1-7 and its sidetrack have encountered gas and condensate in its main target lower Cretaceous Lange formation.
The company said the main well was drilled to a depth of 3,345 metres below sea level and encountered two hydrocarbon bearing sandstone layers in a reservoir estimated to be 16 metres with a total net interval of 12 metres. The firm said the quality of the reservoir was better than expected.
Faroe said extensive data gathering has been collected on site including core, pressure and fluid samples, while the preliminary resource estimate for the Solberg discovery is in the range of 6 to 25 million barrels of oil equivalent.