A sub-basalt exploration well is to be drilled by Statoil on the Brugdan prospect in licence 006 off the Faroe islands next summer.
This operation will be carried out by the semi-submersible Stena Don, which is currently on charter to Statoil in Norway.
The partners in licences 003 and 001, operated by Statoil and Amerada Hess respectively, have signed an agreement to farm into the Statoil-operated 006 licence.
They have been allowed by the Faroese Petroleum Administration to offset their drilling commitments in licences 003 and 001 by participation in the planned wildcat.
âWeâre very satisfied to have reached agreement with our partners and the Faroese authorities on drilling this well,â says Gregory T Himes.
He is Statoilâs vice president for the former Soviet Union and Europe in the global exploration cluster of the International Exploration & Production business area.
"The Brugdan prospect has provided a real technical challenge for the explorationists trying to interpret beneath very thick sections of volcanic rock," says Mr Himes.
This drilling target is about 70 kilometres from the nearest well discovery, Rosebank, but he emphasises that the geology could be completely different.
Statoil has a 30 per cent interest in Rosebank, which is operated by Chevron.
The Brugdan well will be drilled to a total depth of about 3,780 metres below sea level, in roughly 450 metres of water.
Statoil has 27.15 per cent of licence 006, which is one of its four operatorships on the Faroese continental shelf.
Its partners in licence 006 are DONG with 21.91 per cent, Anadarko 13 per cent, Enterprise Oil (Shell) 12.47 per cent, Amerada Hess 11.09 per cent, BG group 10.31 per cent, Faroe Petroleum 4.04 per cent and Atlantic Petroleum 0.03 per cent.