Statoil will undertake the drilling operations using the Songa Trym rig. The water depth is 282m and the well is planned to be drilled to a total depth of about 3,205m.
Oil and gas in the Jurassic Ile, Tilje and Ã…re Formations will be targeted by the well and a planned side-track to fast-track a development along similar lines to the Hyme development.
Faroe Petroleum chief executive Graham Stewart said the spudding of the Snilehorn exploration well, if successful, will offer an opportunity to the company to add new production through a fast-track tie-back to the nearby Hyme field in which it also participates with 7.5%.
"We now look forward to one of our most exciting periods ahead, with a long programme of fully-funded high impact exploration and appraisal wells planned, in which we have material equity stakes," Stewart added.
