Faroe secures Novus rig

by on September 28, 2012 6:37 am BST

Faroe announced on Friday that it had contracted the Seadrill-owned drillship West Navigator to drill a well on the Novus prospect in the second half of 2013.

The well will target the Jurassic reservoirs of the Garn, Ile, and Tilje formations to the south-west of the Statoil-operated Heidrun field.

“We are very pleased to announce the securing of a rig to drill the Novus prospect, which will be the second Faroe Petroleum operated well on the Norwegian Continental Shelf,” Faroe chief executive Graham Stewart said.

“In the meantime Faroe is participating in four further exploration wells scheduled to be drill ed in the next six months in both UK and Norwegian waters.”

The Novus prospect lies in PL 645 which was awarded to Faroe in the APA 2011 licensing round.

Faroe operates the licence with a 50% stake and is partnered by Centrica and Skagen 44, which hold a 40% and 10% interest respectively.