German oil and gas company Wintershall has started drilling the Kvalross exploration well 7224/2-1 located in the Barents Sea.
Licence PL611, which contains the Kvalross prospect, is located in the Norwegian Barents Sea to the south of OMV’s Wisting and Hanssen oil discoveries. The company gained a drilling permit for the well from the Norwegian Petroleum Directorate in December 2015.
According to Faroe Petroleum, an independent oil and gas company and a partner in the licence with 40% interest, the well will test two independent targets, namely: the Kvalross prospect with significant oil and gas resource potential within Lower Triassic Klappmyss Formation clinoform reservoir; and the Kvaltann prospect which has additional oil potential within a Mid-Late Triassic Snadd Formation channel.
Licence PL611 was awarded to Faroe in May 2011 in the Norwegian 21st Licensing Round together with co-venturers Wintershall Norge (40% and operator) and Petoro (20%).
The Kvalross well is being drilled using the Transocean Arctic drilling rig.
Graham Stewart, Chief Executive of Faroe Petroleum commented:“We are very pleased to announce the spudding of the Kvalross well which is the first of three exploration wells in Faroe’s drilling programme for 2016 in Norway. This well will test two independent structures in a highly prospective area in the Norwegian Barents Sea. Kvalross is on trend with and just to the South of OMV’s significant Wisting and Hanssen discoveries and will use the same rig as was used to make the Pil and Bue discoveries last year.“