Faroe with technical discovery

Faroe with technical discovery

The Faroe-operated Rungne exploration well 30/6-30 in the North Sea turns out to be disappointing. The upside is 17MMboe.

The well encountered a 56 metre gross (17 metre net) gas/condensate column in good quality interbedded Middle Jurassic Ness formation sandstones and 86 metres of gross water bearing reservoir in the primary Oseberg formation target. No hydrocarbon contact was encountered within the Ness formation.

The preliminary gas and condensate recoverable volume range for the discovery in the Ness formation is likely to be in the range of 12-75 bscf and 0.5-3.9 mmbbls respectively (combined 2.7-17.0 mmboe) and therefore unlikely to be commercial in isolation, Faroe Petroleum says in a Press Release.

“In a six well exploration programme some disappointing outcomes are inevitable. Although no hydrocarbons were present in the main Oseberg target we are pleased to have encountered hydrocarbons in the secondary Ness target which provides new data”, Graham Stewart, Chief Executive of Faroe Petroleum, commented.
NPD Press release