Faroe Petroleum has made a 43-80 mmboe discovery at Brasse in Norway. This represents twice the volume initially anticipated. Faroe holds 50% WI in the licence.Given that the characteristics of the fluid at Brasse look similar to Brage and other fields in the area, the Company does not anticipate any compatibility issues for a tie-back development to nearby infrastructure.Overall opex and capex are anticipated to be around US$5/boe and US$10/boe respectively with first oil in about three year
12 Jul 2016
Large Discovery at Brasse Boosts Contingent Resources by 30%
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Large Discovery at Brasse Boosts Contingent Resources by 30%
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
12 Jul 2016 -
Author:
Stephane Foucaud -
Pages:
6
Faroe Petroleum has made a 43-80 mmboe discovery at Brasse in Norway. This represents twice the volume initially anticipated. Faroe holds 50% WI in the licence.Given that the characteristics of the fluid at Brasse look similar to Brage and other fields in the area, the Company does not anticipate any compatibility issues for a tie-back development to nearby infrastructure.Overall opex and capex are anticipated to be around US$5/boe and US$10/boe respectively with first oil in about three year