Faroe Petroleum PLC announced Jan. 2 that the Brasse east exploration well in Norway had no hydrocarbons present following the completion of the drilling.
The 31/7-3 S well was drilled to a depth of 2,247 meters below sea level and went through coring and logging. Tests show it had 48 meters of gross Jurassic reservoir with excellent properties, but was found to be water wet.
Meanwhile, the Brasse north appraisal well 31/7-3 A was drilled to a depth of 2,254 meters below sea level. Initial tests show the well had around 40 meters of gross hydrocarbon-bearing Jurassic reservoir.
The company is still conducting wireline logging that will be incorporated into the final result. Both reservoir depths and hydrocarbon contact are similar to pre-drill expectations.
The U.K.-based firm tapped Transocean as the driller for the two wells, which used its semi-submersible Arctic rig.
The wells are found within production license 740. Faroe serves as contract operator and holds a 50% stake in the field, while Var Energi AS also owns a 50% interest.
The field discovery was made in 2016 and is near the producing Brage and Oseberg fields. Faroe estimated proved and probable reserves of the field at 30.7 million barrels of oil equivalent in early 2018.
The field is slated to produce first oil in 2021 or 2022.
Faroe said it expects to spend £480 million for the gross development capital expenditure, while the final development capital expenditure will depend on the selection of the development solution.