Statoil Commences Drilling Off Faroe Islands

Monday, July 09, 2001
Norwegian state-controlled energy company Statoil is to start drilling for oil off the North Atlantic Faroe Islands this week in the first test well on the Faroe shelf.

"The well will be spudded in the middle of the week by the drilling rig Sovereign Explorer, which is contracted by Statoil to drill the first exploration well on the Faroe shelf," the Faroe Islands Ministry of Petroleum said.

Sovereign Explorer was due to reach Faroese waters at the weekend and the positioning and anchor handling at the well site were expected to take four days.

The well on the so-called Longan prospect is located to the southeast of the Faroe Islands close to the British boundary. The work is scheduled to take two to three months.

In the first licensing round on the Faroe shelf, which was launched in February last year, the Faroese Ministry of Petroleum received 22 license applications from 17 oil companies. In August 2000, the ministry awarded seven offshore exploration licenses to 12 oil companies.

In addition to Statoil, BP and the Faroese Partnership, with U.S. Amerada Hess as operator, are also to drill off the Faroe Islands this summer.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

‘Blue Queen’ on First Mission

The platform supply vessel 'Blue Queen', an ULSTEIN PX121 design, was named at Ulstein Verft on Friday 27 February. The ship will be working in the spot market.

Fiji Maritime Academy Bullish on Prospects

The Fiji Maritime Academy (FMA) is on the right track to become one of the finest maritime training institutions in the region. It has also achieved an important

Gulf of Mexico Oil Production on the Rise

Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016.

Energy

Ghana-Ivory Coast Maritime Dispute Mar Tullow

A dispute over maritime boundaries between Ghana and Ivory Coast is damaging Tullow Oil, which risks postponement of its TEN project in the waters off Ghana's coastline.

EC Study on LNG as Shipping Fuel Reveals Industry Backing

As efforts to combat climate change increase worldwide, pollution stemming from maritime shipping presents a particular challenge.     The study on the perception

Oil Storage at Sea Stalls as Profit Play Fades

Traders are cutting plans to use tankers to store oil at sea as the price incentive recedes, the global head of oil at mining and commodities group Glencore's said on Tuesday.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1483 sec (7 req/sec)