Oil and Gas Discovery at the Njord North Flank Exploration Well and Side-track

Oil and Gas Discovery at the Njord North Flank Exploration Well and Side-track

Faroe Petroleum, announced an oil and gas discovery at the Njord North Flank in the Norwegian Sea (Faroe 7.5%). The well and side-track (NF-2 and NF-3) are located approximately six kilometres to the north of the Njord production facility (Faroe 7.5%).
The NF-2 exploration well 6407/7-9 S was drilled to a total depth of 4,105 metres below sea level. The well encountered 102 metres of gross oil-bearing reservoir in Middle and Lower Jurassic sandstones of the Ile and 157 metres of a gross gas condensate-bearing column in Lower Jurassic sandstones in the Tilje formation.
Based on these results the partnership decided to drill a side-track well 6407/7-9A to test a fault-block lying to the east which was drilled to a total depth of 4,127 metres below sea level. The well encountered 195 metres of gross gas-bearing column in the Tilje Formation. In addition 140 metres of gross gas-bearing column were encountered in Lower Jurassic sandstones in the Åre Formation. No hydrocarbons were encountered in the Ile Formation in NF3.
Neither well was drill stem tested but extensive data acquisition and sampling has been performed on both wells. Based on the data acquired, a preliminary estimate of the size of the NF-2 discovery is between 1.3 and 18.9 mmboe for NF-2 and between 0.6 and 9.4 mmboe for side-track NF-3. Collectively these discoveries are equivalent to a range of 1.9mmboe to 28.3mmboe (0.14mmboe to 2.1mmboe net to Faroe). These results are in line with pre-drill estimates.
The well has now been plugged and abandoned as planned and the partners will start work on assessing the commercial potential of the discovery.
Source: Faroe Petroleum plc
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