The commitment well 6004/8a-1 is located in 1,106mt of water depth, 190km South East of Torshavn, targeting potentially oil bearing sandstone of Eocene and Palaeocene age in a structural trap.
The well is being drilled by the Norwegian semi-submersible rig Seadrill West Phoenix, which is expected to remain in operation for about 75 days.
Faroe holds a 12.5% participating interest in the Anne Marie prospect, while Eni Denmark, Dana Petroleum, OMV and CIECO hold 30%, 25%, 20% and 12.5% interest in the prospect respectively.
Graham Stewart, chief executive of Faroe, said: “This is the first of three 2010 exploration wells to be drilled in the deep water Atlantic margin, all of which are targeting substantial oil prospects. The second and third wells, operated by BP and Chevron respectively, will be in UK waters, targeting the North Uist/Cardhu and Lagavulin prospects.”
