Faroe hopes for T- Rex to strike oil
- Published
Faroe operates mainly in the Atlantic margin, the North Sea and Norway
Oil and gas explorer, Faroe Petroleum, has announced the start of drilling operations at its T-Rex prospect in the Norwegian Sea.
The prospect, in which the Aberdeen-based company has a 30% interest, is close to fields where oil was discovered in 2010.
The drilling will be carried out by Maersk Oil, which has a 70% interest, using the Transocean Winner rig.
The work is expected to be completed in early 2012.
Graham Stewart, Chief Executive of Faroe Petroleum said: "We are very pleased to announce the spudding of the second of our three 2011 Norwegian exploration wells.
"The T-Rex prospect is situated in a well defined area and one in which Faroe has significant proprietary experience."
He added: "The well is a potential play opener in this prolific region with considerable follow up potential."
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