Exploration well 6004/8a-1 in the License area 005 has been completed. The well was drilled by the semisubmersible drilling rig “West Phoenix” in 1,106 meters of water and reached a total depth of 3,901 m TVDSS.

Licence 005 is operated by ENI Denmark B.V. Co-licensees are Cieco E & P (Faroe) Limited, Dana Petroleum (E & P) Limited, First Oil Expro Limited, Føroya Kolvetni P/F (Faroe Petroleum) and OMV (Faroe Islands) Exploration GmbH.

The well encountered hydrocarbons in thin sands that are intercalated in a thick volcaniclastic section of Palaeocene age. Further analyses are required in order to evaluate the full potential of the structure.

The well has given new and valuable insight into the geological nature and potential development of the area, and it adds considerably to the understanding of the prospectivity in a wider region within and beyond License area 005.

The well is being plugged and will be abandoned, and analysis of the results will now be carried out by the operator before decision is taken regarding the best way forward for the License.

The Minister of Trade and Industry, Mr. Johan Dahl, says: “We are encouraged by the discovery of hydrocarbons, and expect it to result in an increase in the exploration effort on the Faroese continental shelf.

The future does indeed look promising with these results in conjunction with the minimum of two exploration wells to be drilled in other Faroese licenses within the next 2-3 years.”