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Iris and Hades - PL644/PL644 B

The Iris/Hades (Aerosmith) prospects are is located in the Halten Terrace, some 200 kilometres offshore in the Norwegian Sea and adjacent to the producing Morvin and Åsgard fields, operated by licence partner Equinor.

Iris and Hades

Iris and Hades - PL644/PL644 B

Area Equity Partners Blocks
Norwegian Sea (NO) 20% equity OMV (Norge) AS (30% and operator)
Equinor Energy AS (40%*)
Spirit Energy Norge AS (10%*)
6506/8, 10, 11

The Hades and Iris prospects, previously known as Aerosmith and Zappa respectively, have been part of Faroe’s portfolio for many years, forming the main part of a successful APA licence application made in 2009.

On 28 November 2017, the exploration well 6506/11-10 commenced targeting two formations: the Cretaceous Hades prospect and the Jurassic Iris prospect located directly underneath.  In April 2018 it was announced that the well had been drilled to a total depth of 4,536 metres (MD).  Preliminary results based on coring, wireline logs, fluid sampling and pressure data showed that the well had encountered gas/condensate bearing reservoir within both prospects.

In the Hades prospect, at a depth of 3,932 metres (MD), the well encountered c. 35 metres gross gas/condensate column within the Cretaceous Lange Formation of which 15 metres are net reservoir sandstones of moderate to good reservoir quality. Preliminary gross volumes of recoverable hydrocarbons for the Hades prospect were estimated to be 19-113 mmboe, ahead of pre-drill estimates.

In the Iris prospect, at a depth of 4,223 metres (MD), the well encountered a 218 metre, high net-to-gross sandstone interval, within the Jurassic Garn Formation, containing a 93 metre column of gas/condensate.  Within the gas/condensate column, net reservoir has been estimated at 85 metres, consisting of sandstones of moderate to excellent reservoir quality.  Pressure data indicated that the Hades and Iris prospects are separate hydrocarbon accumulations.  Preliminary gross volumes of recoverable hydrocarbons for the Iris prospect were estimated to be 19-132 mmboe, ahead of pre-drill estimates.

The Iris and Hades discoveries are located approximately eight kilometres to the north of the producing Morvin Field and 20 kilometres to the northwest of the Åsgard Complex, where large quantities of gas and condensate continue to be produced and transported to several landing points on the European continent.

All data from the two discoveries is being assimilated and a follow up appraisal programme is being considered by the operator and partners.

The well was drilled by the Deepsea Bergen semi-submersible drilling rig.  Licences PL 644 and PL 644 B are both operated by OMV (Norge) AS (30%), with partners Equinor Energy AS (40%)*, Faroe Petroleum Norge AS (20%) and Spirit Energy Norge AS (10%)*.

*Assignment of interest subject to completion