The 8/10-5S well, adjacent to the Butch Main light oil discovery, is being drilled by jack-up Maersk Giant in a water depth of 65 metres in production licence 405/405B at a location close to existing infrastructure, with the giant Ula field just to the north-west.
Operator Centrica has shot more seismic data that has been applied in the planning of two more exploration wells on the untested eastern and south-western sides of the salt structure.
The operator is now working on a development plan for the 2011 discovery, in tandem with drilling both Butch East and the upcoming Butch South West well, according to Faroe.
Centrica holds a 40% operating interest in the licence, with Suncor on 30%, Tullow Oil 15% and Faroe Petroleum 15%.
Faroe chief executive Graham Stewart said the Butch East well has the potential to “substantially add to the value of the Butch field”.
He added the well was part of an “exciting exploration campaign” for the UK independent, which participated in the recent Snilehorn discovery off Norway and is currently drilling at the Novus prospect, close to the producing Heidrun field.
Faroe is also targeting upcoming wells at the Solberg and Pil prospects in the Norwegian Sea.”
*Bianca Bartucciotto, Upstreamonline