Faroe spudded appraisal well 31/7-3 S at Brasse East in PL 740 on 20 November 2018 using the âTransocean Arcticâ S/S. It was targeting potential recoverable reserves of 12.5 MMboe on the eastern flank of the Brasse field, identified following recent seismic reprocessing and re-interpretation work. The well reached TD at 2,705 m (2,247 TVDSS) and is a dry hole. Water-wet sands were encountered in a Jurassic reservoir (48 m) with excellent reservoir quality. On 17 December 2018 sidetrack 31/7-3 A was kicked off targeting incremental reserves of 61 MMboe in the main Brasse reservoir. The well reached TD at 2,863 m (2,254 m TVDSS) and encountered oil. It penetrated around 40 m of Jurassic reservoir and reservoir depths and hydrocarbon contacts were similar to what was prognosed. On 16 January 2019 Faroe was abandoning the well.  Brasse discovery well 31/7-1 was drilled in 2016 and proved a 21 m oil column plus an 18 m gas column in the Jurassic Fensfjord Formation. Sidetrack 31/7-1 A was drilled to appraise the southeastern part of the discovery and confirmed oil and gas columns of 25 m and 6 m respectively. In 2017 Faroe appraised the find with 31/7-2 S, which confirmed a 9 m oil column in the Sognefjord Formation and on test flowed at a maximum rate of 6,187 bo/d through a 1â choke from a 3.6 m perforated interval, and 31/7-2 A which proved an 18 m oil column plus a 4 m gas column. Both wells have the same OWC as the discovery well (2,172 m), although 31/7-2 A has a deeper GOC (2,154 m), and there is good pressure communication between all wells. Reserves have been upgraded from 43-80 MMboe to 56-92 MMboe (46-76 MMbo plus 59-97 Bcfg).   Faroe is progressing plans for development as a subsea tie-back to either Brage or Oseberg and envisages 3 - 6 production wells plus a potential water injector. It believes that it could achieve a rate of 30,000 boe/d with first oil in 2021 / 2022. Capex is forecast at USD 500-700 million (based on four wells and one subsea template) and the final concept selection will take place in 2018 with PDO submission likely in 2019.    Interest in PL 740 is divided between Faroe Petroleum Norge AS (50% + operator) and Point Resources AS (50%).
Norway (Oseberg Fault Block (Horda Platform)) Oseberg