Italian oil company Eni has completed drilling of an exploration well in the Barents Sea but found no hydrocarbons as a result.
The 7183/12-2 Boné exploration well is located in license PL716 where Eni is the operator with 30% interest. The partners in the license are Faroe Petroleum (20%), Bayerngas Norge (20%), Petoro (20%), and Point Resources (10%).
According to a statement on Wednesday by Faroe Petroleum, the drilling has reached target depth on the 7183/12-2 Boné exploration well in the Barents Sea. The well has been drilled to a total depth of 3,501 meters.
Faroe further said that the well encountered approximately 106 meters of gross water bearing reservoir in the primary target, the Realgrunnen Group. Data acquisition and sampling has been undertaken including logging and water sampling.
The Boné exploration well was drilled using the Saipem-owned Scarabeo 8 drilling rig and is now being plugged and abandoned as planned.
Graham Stewart, Chief Executive of Faroe Petroleum, commented: “While we are disappointed that no hydrocarbons were present in the Realgrunnen section at this frontier location, the well provides important new data and information which will allow further evaluation of this extensive license in the Barents Sea province.
“Our 2017 drilling program continues with plans progressing well for the appraisal of the 2016 Brasse discovery this summer, which will be operated by Faroe. We are also maturing a number of exciting new drilling targets in Norway with potential to take advantage of the continuing low drilling costs.”