Faroe strikes gas but questions quality

Aberdeen-based driller Faroe Petroleum has reported mixed initial results from a test well west of Shetland.

Faroe, which has only a small stake in the North Uist prospect being explored by BP, said preliminary results indicated “varying reservoir quality” and the commercial potential has yet to be evaluated.

The well reached a total vertical depth of 4,700 metres and encountered gas condensate in sandstone reservoirs in the target section.

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Chief executive Graham Stewart said: “After a long period of drilling activity on this wild-cat exploration well, we are pleased to have made a discovery in North Uist, although we had however hoped for better quality reservoir.

“The result proves another working hydrocarbon system in the frontier west of Shetlands which is good news for further prospectivity in these UK waters. The partnership will now undertake extensive analysis of the considerable volumes of data and samples collected from the well operations before deciding on the next steps.”