Fogelberg (licence PL433) is a substantial gas/condensate discovery, located some 18 kilometres to the north of the producing Åsgard Field (Smørbukk deposit). The structure is similar to the recent Statoil operated Morvin oil and condensate discovery located 10 kilometres to the southwest..

Faroe was awarded this licence in 2007, as one of its first Norway licences, and one of several licences identified and won on the basis of Faroe's own original technical work.

The drilling operation, which commenced in February 2010, was undertaken by the operator Centrica using the West Alpha semi-submersible drilling rig. In March 2010 it was announced that the well was drilled into the mid Jurassic reservoir of the Garn formation with indications of hydrocarbons. Gas and condensate is encountered in both the mid/late Jurassic Garn and Ile formation. Despite an extensive data gathering, the volumetric uncertainty remains relatively large at this stage due to the position of the Fogelberg well which is located relatively high on the structure.

Current status is evaluation of the need for an appraisal well combined with pre development studies. The Fogelberg well was drilled on 281m water depth and TD at 4736m in the lower Jurassic Åre formation. however. the gas export capacity is currently at maximum levels and the timing of the Fogelberg project therefore remains uncertain. Several initiatives are ongoing by related oil industry groups to de-bottleneck the gas export system and thereby bring forward the new developments in the area.

Partners in the well are Centrica Resources Norge AS ("Centrica") (operator 28%), Petro-Canada Norge AS, (30%) E.ON Ruhrgas Norge AS (15%) and North Energy AS (12%).