The partners, who had sanctioned the project in late March, plan to drill two new infill wells and install gas lift in three existing wells to boost the overall production of the offshore Norwegian field.

Through these activities, the partners also aim to extend field life by up to 10 years, which is expected to contribute to lower unit operating costs in the Ula hub area.

Faroe Petroleum CEO Graham Stewart said: “Drilling operations are now expected to continue to the end of Q1 next year, and it is hoped that the two new wells will be brought on stream before the end of April 2018.

“The significance of this work programme is not only the impact on reserves and production but it also shows our ability to drive value and upside potential from the existing portfolio.”

Faroe Petroleum, which holds a stake of 45% in the Tambar field, revealed that the infill wells are being drilled by the Maersk Interceptor drilling rig. The drilling will target undrained area in the north and south of the Tambar field, which are estimated to increase 2P reserves further.

The Tambar field’s gas will be moved to and reinjected into the Ula field where Faroe has a stake of 20%, as part of an ongoing Water Alternating Gas (WAG) injection scheme. This, Faroe says is likely to create surplus production over the life of the Ula oil field in the Norwegian North Sea.

The Tambar and Tambar East Unit Fields, located around 16kms to the southeast of the Ula field, are satellite fields, which are operated as a single field by Aker BP.

An unmanned wellhead platform tied back to the Ula Platform has been used to develop the Tambar field. The Tambar development has three existing wells in the Tambar reservoir and an existing well in Tambar East.

Discovered in 1982, the Tambar field contained in 68m water depth was brought into production in 2001.