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    Amerada Hess discovers hydrocarbons in Faroe Islands

    News // November 30, 2001
    Amerada Hess Corporation, operator of Licence 001 in the Faroe Islands, has announced that it has discovered oil and gas at well 6004/16-1 - the first such discovery in the Faroes.

    Light oil and gas were discovered over a gross interval of approximately 170m. The well was not subjected to a flow test due to weather conditions, and following logging operations, is now being plugged and abandoned.

    Commenting on the discovery, Amerada Hess UK Managing Director, Nick Fairbrother said: "This is a great result. We're delighted that our first well in the Faroes has been successful and we look forward to following up on this success with our drilling programme next year. However, while the results show the presence of significant volumes of hydrocarbons in the Faroes sector of the northeast Atlantic, a great deal more work is required to evaluate the results of the well and determine the appropriate appraisal programme".

    Located close to the boundary with the United Kingdom, in 950m of water, the well was drilled to a total depth of 4,275m in a deepening operation, after reaching the commitment depth of 3,830m.

    While the initial section of the operation was funded by the full Faroes Partnership, the subsequent deepening was funded by Amerada Hess (71.547%), DONG E&P (28.286%) and Atlantic Petroleum (0.167%) under the sole risk provisions of the Partnership agreement.

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