|This afternoon BP as operator of license 007 submitted an application to drill to Jarðfeingi. According to the legislation an application to drill shall be submitted to the authorities no later than 3 months prior to the spud date. |
The well is a result of an approval by Minister of Trade and Industry Bjarni Djurholm in October 2005 to transfer remaining well commitments from license 004 to license 007. License 007 is a 9-year license granted to Anadarko in the first licensing round on the Faroe Shelf.
This well shows that the strategy behind the granting of 9-year licenses for challenging areas in order to mature them has worked as intended.
The drilling operation targets the William prospect in license 007 which lies on the basalt covered area making this the second sub-basalt well on the Faroese Continental Shelf.
The companies in license 007 are BP 50%, Shell 25% and Anadarko 25%.
Reference is also made to the press release on the above well transfers and map of licenses in the Faroese area.