Statoil commences drilling of Snilehorn exploration well

Faroe Petroleum announced that drilling of the Statoil-operated Snilehorn exploration well 6407/8-6 located four kilometers from the Hyme producing oil field in the Norwegian Sea, has commenced.

Statoil will undertake the drilling operations using the Songa Trym rig. The water depth is 282m and the well is planned to be drilled to a total depth of about 3,205m.

Oil and gas in the Jurassic Ile, Tilje and Åre Formations will be targeted by the well and a planned side-track to fast-track a development along similar lines to the Hyme development.

Faroe Petroleum chief executive Graham Stewart said the spudding of the Snilehorn exploration well, if successful, will offer an opportunity to the company to add new production through a fast-track tie-back to the nearby Hyme field in which it also participates with 7.5%.