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Atlantic Petroleum P/F, Statoil Faeroeyene AS and ExxonMobil Exploration and Production Faroe Islands Ltd Announce Temporary Suspension of Brugdan II Well


Tuesday, 27 Nov 2012 02:01am EST 

Atlantic Petroleum P/F announced that the Company together with its partners, Statoil Faeroeyene AS and ExxonMobil Exploration and Production Faroe Islands Ltd have decided to temporarily suspend operations on the Brugdan II well offshore the Faroe Islands. The Brugdan II well has drilled into the sub-basalt section, but the primary objective has not yet been reached. The decision to suspend the drilling is based on the expected bad weather. The Faroese authorities have authorised a suspension until end 2013. The well is located approximately 80 kilometers offshore from the Faroe Islands and was spud in June 2012. It has been drilled with the COSL Pioneer semi-submersible rig in a water depth of approximately 450 meters. The Brugdan II well is the second exploration well that has been drilled in licence 006 which covers an area of approximately 579 square kilometers. The Company has 1% equity in the Brugdan licence. The operator is Statoil Faeroeyene AS with 50% equity and partner ExxonMobil Exploration and Production Faroe Islands Ltd has 49%. 

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