Preliminary results from Faroe Petroleum's Cooper well off the coast of Norway suggest a hydrocarbon discovery has been made, although it has yet to be announced of what possible size or type. Faroe holds a 30 per cent interest in the block, with major Canadian group Suncor holding the same and operator Centrica controlling the rest. The partners will now perform a drill stem test to evaluate the likely productivity of the reservoir, and expect to release the results "in the coming weeks".
The discovery is welcome news for Faroe after its first operated well in Norway, Clapton, failed to turn up significant hydrocarbons last month. The company is also waiting on results from the North Uist exploration well west of Shetland, operated by BP, where a number of technical issues have delayed drilling operations. It recently managed to double its lending facility to £160m, too.
