Elaine Maslin, 29th June 2012
Aberdeen-based oil explorer Faroe Petroleum said today its Clapton well off Norway would be plugged and abandoned after disappointing results.
It added the well, its first operated off Norway using the Maersk Guardian jack-up rig, had found the target reservoir to be “thinner and of poorer quality than prognosed”.
The well is in the Norwegian southern North Sea, 6.2miles from BP’s Valhall field. It is 40% owned by Faroe, with partners Dana Petroleum Norway with 20%, Lundin Norway with 18%, Norwegian Energy Company with 12% and Det Norske Oljeselskap with 10%.
Faroe said it was now looking forward to the results of two other exploration wells – Cooper in the Norwegian Sea, in which it has a 30% stake, and the deepwater BP-operated North Uist well west of Shetland, in which it holds 6.3%.
Chief executive Graham Stewart added: “Whilst the results for the Clapton well are disappointing, the data obtained does provide important new information, which will allow further evaluation; particularly in the upper sections of the well where hydrocarbons were encountered.
“This was also Faroe’s first operated well in Norway and we are very pleased that it was delivered on budget and drilled safely.
“Faroe Petroleum has a significant and diverse exploration portfolio and this is an exciting period for the company as we continue operations right now on two high impact exploration wells, the Cooper well in the Norwegian Sea (Faroe 30%) and the North Uist exploration well west of Shetland (Faroe 6.3%).
“We look forward to the results of the Cooper well which is expected in the next two weeks.”
Faroe said the Clapton well was drilled to a vertical depth of 2,619m below sea level and terminated in the Cretaceous Hidra Formation.
The primary target was encountered on prognosis, but the reservoir was thinner and of poorer quality than expected.
The Shetland Group chalk reservoir contained no hydrocarbons of producible quantities. Oil shows were present in the Neogene section and in the upper part of the Ekofisk. Data acquisition and sampling has been carried out and the well will now be plugged and abandoned.