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Brasse - PL740/PL740 B/PL740 C

The Brasse Prospect is located in the Upper Jurassic Sognefjord formation, south of the Brage Field on the possible migration route into Brage. Faroe is the operator for this licence.

Brasse

Brasse - PL740/PL740 B/PL740 C

Area Equity Partners Blocks
North Sea (NO) 50% equity Vår Energi AS (50%) 30/9, 31/7

The Brasse field discovery was made by Faroe in 2016 and is located within tie-back distance to existing infrastructure: 13 kilometres to the south of the Wintershall-operated Brage field platform, in which the Company holds a 14.3% working interest and 13 kilometres to the south east of the Equinor Energy AS operated Oseberg Field Centre.

Based on extensive data collected from the initial 2016 discovery well, initial sidetrack, 2017 appraisal well (with drill stem test) and the appraisal well sidetrack,  Faroe booked net 2P reserves at 30.7mmboe in early 2018.

At the end of 2017, the Brasse feasibility study phase was completed confirming several attractive development solutions and export routes.

In 2018 the Concept Selection work is progressing, and the project is on track for a 2021/2022 production start.

The preliminary reservoir development plan includes three to six production wells and possible water injection for pressure support. Gross development capex is estimated to £480 million, final development capex depends on final selection of development solution.

PL740 was awarded in 2015, extension acreage PL740 B was awarded in 2017 and PL740 C was awarded in 2018.

 

Proposal for Environmental Impact Assessment Study Programme

Faroe Petroleum Norge AS – as operator and on behalf of the licence partners – has prepared a study programme proposal (in Norwegian only) for the Impact Assessment on Development and operation, as well as the disposal of the Brasse oil and gas field.

The 12 week consultative ended 17.09.18 and Faroe is awaiting the final stipulation of the program from the Ministry of Petroleum and Energy.

The consultative document (Norwegian only): PL740 Brasse Forslag til Program for Konsekvensutredning