Home Seismic and oil exploration Open Door-OUT OF ROUND BIDS Prospecting Licenses Data release Faroese participation more... The fourth Faroese Licensing Round for Hydrocarbon Exploration will open officially on 17 May 2017. 5/14/2017 0 Comments Jarðfeingi is in the process of re-interpreting all the data to get a better understanding of the geological progress of the Faroese area. This new work will be presented at an event in London in June. Jarðfeingi will also be visiting several other conferences and similar events during the coming months, leading up to the opening of the Licensing Round, where you shall be welcome to visit our stands. See more her 0 Comments Introduction-Drilling activity-Sindri 9/15/2013 0 Comments Introduction Exploration for hydrocarbons within the largely Paleocene/ Eocene aged basalt covered Faroese Continental Shelf is relatively young, commencing with the opening of the 1st Licensing Round in February 2000 and the award of seven licenses in August the same year. During the following years, four wells were drilled within the non-basalt covered part of the Judd sub-basin, targeting the deep-water Paleocene play. The drilling led to one discovery in the oldest Paleocene section and oil/gas shows. To date a total of 7 wells have been completed, with one being suspended for re-entry in 2014. In 2004 a second licensing round opened up, with the award of seven new licenses in January 2005. A third licensing round opened in July 2008 and closed on the 3rd November. Three licenses were awarded in December 2008, totalling 14 active licenses. In June 2013 two licenses were awarded under the Open Door regime which is currently in place. One of the licenses covers the Marjun discovery Map showing Open Door and licensed areas as of August 2013. Drilling activity The first campaign of offshore exploration wells drilled in the Faroese area commenced in 2001 with the drilling of three wells, all targeting deep-water Paleocene plays in the nonbasalt covered part of the Faroese sector of the Judd subbasin. The identification of prospects, with a strong stratigraphic component, was to a large degree relying on seismic amplitude with various degrees of AVO support. The results from these four wells displayed a generally more sandy Paleocene section in the basin centre than expected from results on the UK side, thus limiting trap integrity. Good quality sandstones were encountered throughout the Paleocene interval, but the Early Paleocene reservoir section from the discovery well indicate low permeability values, attributed to the flux of high temperature pore fluids related to intrusive activity in the close vicinity. The amplitude anomalies observed were primarily related to differences in the lithology i.e. the influence of volcanic/ igneous material. After the initial disappointments in the Judd sub-basin, the focus was turned towards the vast areas covered with various thicknesses of basalt, adopting a more traditional frontier area exploration approach. The second phase of drilling, consisting of well commitments transferred to licenses without committed wells. These targeted primarily structurally trapped intra- and sub-volcanic prospects. Two of the wells were terminated after technical difficulties, but with traces of hydrocarbons. One is being redrilled. The third well found three zones with gas, but no reservoir. It was terminated 2700 m below mudline without testing deeper mapped structures. Two wells will be completed in 2014. One well on License 006 be re-entered, and a well will be spudded on license 008 targeting Rosebank analogue. Sindri The Sindri Group was officially established by the Minister of Petroleum on 17th August 2000 as part of the stipulated work programme for licensees within the Faroese area. The main objective for the Sindri Group is to carry out joint projects of relevance to the future investigation of the Faroese Continental Shelf with the primary topics for investigation being: - Relevant technologies for imaging within basalt-covered areas. - Regional geology and evolution of the entire Faroese area. - Definition of the hydrocarbon system in the entire Faroese area The Management Committee is composed of senior exploration representatives from the funding companies. The setup of the Sindri consortium is currently being reevaluated by Jarðfeingi, in order to find out whether it shall continue as is or the focus and/or setup should be changed based on the current status of geological understanding and exploration activity on the Faroese Continental Shelf. Data Jarðfeingi is the national data repository for all data acquired in relation to hydrocarbon exploration activities and holds data of different vintages dating back to 1974 and with very different acquisition parameters. From 1992, where the rights to mineral resources in the subsoil were transferred from Denmark to the Faroe Islands, but also the discovery of the Foinaven field led to an increase in data acquisition and speculative 2D seismic now has a total length of more than 50,000 km as well as 8,000 km2 of 3D seismic. The acquisition parameters vary and reflect different attempts to overcome the difficulties of imaging within basalt covered areas. This means seismic data using very long offsets, up to 32 km, large airgun systems (up to 9,000 in3) and two ship acquisition have been tried. Jarðfeingi is releasing data that have gone beyond the confidentiality period of 10 years for speculative data and five years for proprietary data. This means the release of more than 19,000 km of 2D seismics, almost 2,000 km2 of 3D seismics, seven exploration wells and three onshore scientific boreholes. Overview of Hydrocarbon Exploration on the Faroese Continental Shelf 2000: 22 application were received in the first licensing round, with 7 Licenses awarded carrying a total of 8 firm wells. 2001: The first three wells, 6005/15-1; 6004/12-1z and 6004/16-16z, were drilled within the Faroese part of the Judd sub-basin. 2003: Well 6004/17-1 drilled within the Faroese part of the Judd sub-basin. 2004: 9 applications were received in the second licensing round, with 7 licenses awarded. 2006: Well 6104/21-1, targeting a sub-basalt play was drilled on the East Faroe High. A Drill or drop decision results in a new well commitment on License 005. 2007: Well 6005/13-1 drilled, targeting a sub-basalt play in the Brynhild sub-basin. 2008: 3 applications were received in the third licensing round with 3 licenses awarded. 2009: A new well is committed on License 008. 2010: Well 6004/8a-1 is drilled on the Mid Faroe High.. A well is committed on either license 006, 009 or 011. 2012: Well 6004/21-2 was spudded on the East FAroe High. It currently suspended for re-entry in 2014. 2013: Two licenses are awarded out of round under the Open- Door regime. 2014: Two wells to be drilled For more information, please visit www. jardfeingi.fo and www.sindri.fo Brekkutún 1, P.O. Box 3059 FO-110 Tórshavn Faroe Islands Tel: +298 35 70 00 Source;jardfeingi.fo More pictueres will be added. 0 Comments Faroe hydrocarbon data much sought after 9/8/2013 0 Comments Source: oljan.fo » Olja Sunnudagur 8. september 2013 - 21:37 Written by: Jan Müller - jan@foib.fo It is not always satisfactory to go to work at Jarðfeingi, particularly when oil companies announce they are leaving the Faroes area. This is however a reality a Petroleum administration must take into consideration. It is much more pleasing and satisfactory to see new oil companies emerge on the horizon and this is exactly the picture facing the Jarðfeingi CEO at the moment. The Jarðfeingi CEO, Mr Petur Joensen. Lately they at Jarðfeingi have been extremely busy extracting Faroe drilling and seismic data from their archives: -“I can only say that we are very pleased and satisfied to see such a positive development, as no fewer than five oil companies, several of them new oil companies, are currently knocking on our door to buy data on the Faroe subsoil”, says Mr Petur Joensen the Jarðfeingi CEO. He points out however, that it is a long and Winding road from acquisitioning data to becoming part of the actual exploration effort in the Faroes. This sudden interest for the Faroe subsoil should not be ignored however and he is convinced that the two pending Statoil well drillings in 2014 are adding to the interest for the Faroes area. The Jarðfeingi CEO is very pleased to hear about the recent agreement made between Statoil and OMV, which also encompasses the Faroe exploration licenses: -“I do not know at this stage what this agreement implies for the Faroes, but in the event an oil company like OMV is prepared to accept an increased responsibility for the future, this can only strengthen the Faroes position. It is always better to have more eyes looking, as this provides different angles and inputs, which all contribute to the exploration effort in the long run”. Mr Joensen is also of the opinion that the two-page article in the world’s largest oil magazine will increase the exploration effort and interest:-“This is very interesting and hopefully this will also prompt delegates to come and visit the Faroe stand at Offshore Europe 2013”, says Mr Joensen who will personally be at the Faroes stand, to inform about exploration options and opportunities in the Faroes area. 0 Comments Several oil companies looking at the Faroes 9/8/2013 0 Comments oljan.fo » Olja Týsdagur 2. juli 2013 - 13:51 Written by: Jan Müller -jan@foib.fo On the 26 of June the Faroe government signed an agreement with the Danish oil Company Dong for two new exploration licenses in Faroe waters. The Minister for Hydrocarbon Affairs, Mr Johan Dahl, who must be very pleased with this agreement, believes this will open new doors to the Faroe subsoil and for international oil companies: -“This is fantastic”, the Minister told the media who came in numbers to attend the press meeting. Jan Müller Managing Director FOIB / Photo O. M. Lassen Oljan.fo interviewed the Faroe Minister, who believes the so-called “Open Door” policy together with this Dong agreement, will create rings in the water and said there are already other oil companies looking at the Faroes area. Satisfactory development Q : What importance does this have for the Faroes, e.g. that an oil company has applied for these licenses and that you have awarded them? A:-“That exploration activity is taking place in our waters is a precondition for the discovery of hydrocarbons. It is very good news that tangible activity will resume in this area”. There was originally a huge interest for exactly this area, when exploration emerged in the Faroes. There has been substantial activity in this area and therefore knowledge accumulated on this area is much larger now compared to previously. Q : Will this create a ring effect in the water and entice other oil companies to apply for an “Open Door” area? A:-“This will not come as news for companies harbouring an interest in the area that something like this could occur. The fact is that the Hydrocarbon Legislation Act stipulates that when an exploration application is received without the area in question having been publicly on offer, the receival of an application must be made public and they will have been aware of this for some months. We hope this have a ring-effect. Oil companies do of course conduct their own surveys and estimations on the various areas on offer round the world, but the fact is that they also very keenly monitor what other oil companies are doing. Phycology also forms part of the holistic picture and there is no doubt that at least the companies looking at the Faroe area will have noted this latest development”. Q : Will this latest development encourage you to market the “Open Door” policy even more? A:-“Personally, I think it was sensible to alter the Hydrocarbon Act in 2010, to make it more flexible, when licenses were to be awarded. A result has now been achieved and I am very pleased with that, as it proves the decision to opt for change was the correct one to make. Yes, certainly the “Open Door” policy will form part of our future strategy”. Q : What concrete effects have been registered after the awarding of these licenses? A:-“The licenses have been awarded for a total span of seven years, which has been broken down into shorter periods. For each separate period an agreement has been made regarding what type of geological surveys the license holder will perform. The license holder may, after the elapse of each individual period, decide to return one or both licenses, if he estimates there is no basis to continue further activities. Towards the termination of the total period, a decision must be taken if a drilling is to be undertaken or not. You could interpret this licensing period as an on-going development where work is being done to expand the knowledge and thereby reduce a possible drilling risk”. Q : Is it not strange to re-enter an area, which oil companies have formerly abandoned and dropped? A:-“No. That is common practice and there may be various reasons to return to an area. One reason may be that knowledge accumulated on the area has changed in a positive direction. Companies also differ on how they interpret the knowledge accumulated. We saw, for example, when the large Johan Sverdrup oilfield was discovered last year. This discovery lay in an area, which had been surveyed over and over again. This proves that knowledge is increasing and the interpretation of this varies from company to company”. Dong great importance Q : Are you pleased that it is just this company which has applied and secured these licenses? A:-“Dong has been part of the Faroe exploration effort from day one and we have had a very good relationship and communication with this company. This is a company with excellent people and has extensive experience not just in the Faroes but also west of Shetland and elsewhere, so it is capable of delivering a substantial contribution to the exploration effort in our area. Of this I am convinced - so yes, I am very pleased”. Q : Does this imply that Faroe exploration is getting a kick in the right direction, e.g. the motor is gaining momentum? A:-“This in itself is very good news and together with the future pending drillings, will definitely cast a positive light on the Faroe area”. Exploration revenues for the Faroe society Q : How will the Government and Jarðfeingi, market the Faroes after this event? A:-“We are jointly in the process of laying the final touches to a plan on how we can increase activity here, as we are convinced there are many possibilities we have not yet exploited. There is no doubt that the oil industry delivers quite a substantial contribution to the society – both directly and indirectly – so we ought to continue developing this industry – and I am working towards this”. Q : Do you envision the oil world regarding the Faroe plateau with more favourable eyes, now a large oil company has applied for and been awarded two Faroe exploration licenses? A:-“We know there are several oil Companies looking at the Faroes area, but from there to landing a license depends on many things. That Dong has been awarded two licenses will not detract from the Faroes area”. Q : Are you contemplating another real bidding round? A:-“We are continuously looking at what is the correct action to take. Currently we estimate the “Open Door” policy is the most suitable to our situation and our thoughts concerning the near future. What lies ahead, only time will tell, but we are regularly monitoring the situation. Exploration strategy ready by autumn Q : As Chinese oil companies are taking an interest in Iceland, the arctic region and are active east of the Faroe border, what does the Faroe Government intend to do – will your marketing strategy include Chinese oil companies and how will you follow up on the visit to Gazprom in Moscow? A:-“We are working, as mentioned previously, on laying the final touches to a plan, which is intended to create more activity here. Through this work we are of course looking at what options are available to us”. Q : When will we see a real Faroe strategy for future oil exploration? A:-“By early autumn we should have reached our objectives”. Statoil wells Q : Apart from this good news, two well drillings are pending, where Statoil is the operating company. What expectations do you have for these wells? A:-“If two wells are drilled next year, this will be a year where drilling activity will be present most of the year. For Faroe industry and for the focus on the Faroe area, I estimate this could become very interesting. We will in any case do our utmost to ensure that Faroe industry becomes involved as much as possible. Faroe supply companies have realised the opportunities this industry presents and have proved their worth by becoming an important sector of the Faroe economy. We need the drillings and the associated activities to strengthen this development. There are huge possibilities”. Q : What do you otherwise expect of the Statoil drillings, next year? A:-“We have had the oil industry at quite close quarters for some years now and we have gained a much better perception of how this industry is construed. Part of this is that we now know how difficult it is to begin operations in a new area – which our area is in this context. On the other hand, it is very exciting when a drilling is underway – there is always the possibility of a discovery. The knowledge gained from a drilling operation may present many perspectives for future exploration efforts and a dry well need not just be a negative experience next year. For Faroe industry I sincerely hope it will also be interesting for them”, said Mr Dahl, in his concluding comments to the interview. Source. www.oljan.fo 0 Comments Gravgangur eftir føroyskum oljudata 9/2/2013 0 Comments Tað er ikki altíð líka hugaligt hjá fólkunum á Jarðfeingi at fara til arbeiðis. Serstakliga ikki tá útlendsk oljufeløg boða frá, at tey rýma úr Føroyum. Hetta er so eisini ein veruleiki, sum ein slík oljuumsiting má fyrihalda seg til. Meira hugaligt er, tá nýggj oljufeløg daga undan í havsbrúnni. Og júst henda veruleika kann stjórin á stovninum fegnast um í løtuni. Hjá Jarðfeingi hava tey nevniliga fingið úr at gera hesa seinastu tíðina at leita fram data frá seismikki og boringum frá føroyska landgrunninum. “Eg kann ikki siga annað enn, at vit eru sera fegin um hesa jaligu gongdina, nú ikki færri enn fimm oljufeløg, fleiri teirra nýggj feløg, hava bankað á dyrnar fyri at keypa data um føroysku undirgrundina,” sigur Petur Joensen, stjóri. Hann leggur tó dent á, at tað er ein langur vegur frá tí at keypa data til at gerast partur av leitingini. Men hesin áhugin fyri føroysku undirgrundini er “ikki at kimsa at”, sum Jarðfeingisstjórin málber seg. Hann heldur eisini, at tað er greitt, at teir báðir komandi brunnarnir hjá Statoil í 2014 eru við til at skapa áhuga fyri landgrunninum. Petur Joensen fegnast annars um tíðindini um, at Statoil og OMV hava gjørt eina avtalu, sum eisini fevnir um leitiloyvi í Føroyum. “Nú veit eg ikki, hvat henda avtala ber í sær,men um so er, at oljufeløg so sum OMV, ið longu er partur av leitingini, vilja átaka sær størri skyldur í framtíðini, so er tað bara ein styrki fyri Føroyaøkið. Tað er altíð gott at hava fleiri eygu, sum síggja, tí tað gevur nýggjar vinklar og innspøl, ið aftur kann vera gott fyri leitingina uppá longri sikt.” Stjórin á Jarðfeingi heldur tað eisini stuðla upp undir leitingina og áhugan, tá heimsins størsta oljublað, UPSTREAM, nú um dagarnar velur at brúka heilar tvær síður uppá føroysku oljuleitingina. "Hetta er sera hugaligt og kann vónandi eisini gera sítt til, at tað verður gravgangur eftir at vitja føroyska básin á oljumessuni í Aberdeen í komandi viku". Sjálvur fer Jarðfeingisstjórin at vera í Aberdeen messudagarnar at kunna um Føroyar sum leitiøki. Myndatekstur: Petur Joensen, stjóri á Jarðfeingi fegnast um jaligu gongdina á landgrunninum, nú bæði seismikkfeløg og oljufeløg eru farin at vísa størri áhuga fyri undirgrundini. Kelda: oljan.fo - Jan Müller - jan@foib.fo 0 Comments Author Write something about yourself. No need to be fancy, just an overview. Archives May 2017 September 2013 Categories All RSS Feed POWERED BY