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Faroe Petroleum, an independent oil and gas company that primarily focuses on exploration, has started a new exploration well in the western part of the Norwegian Barents Sea.

The new well, named Boné prospect (formerly known as Dazzler), has been chosen following an oil and gas discovery in its Brasse well in July last year. As a result of this discovery, the firm has committed to the drilling of an appraisal well on this site in the middle of 2017, in partnership with Odfjell Drilling.

Under the Boné exploration, the company will primarily be targeting the Jurassic Stø- and Nordmela sandstones, while there is also a secondary target within the Triassic Fruholmen and Snadd sandstone formations.

The company will be utilising the Scarabeo 8 drilling rig for this project, and will announce its discoveries on its completion.

Chief executive of Faroe Petroleum Graham Stewart explained that Boné is the company’s first exploration well of the new year.

He commented: “This high impact well will test a large horst structure with very significant volume potential.”

Faroe Petroleum is not the only organisation focusing on high impact exploration activities in 2017, with Offshore magazine reporting that BP is targeting a number of high impact wells in the coming 12 months, with the petroleum giant farming into five licenses in the Shetlands area at the end of 2016.

BP has partnered with a number of other companies to carry out various drilling activities aimed at bolstering its UK offshore production.

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