Faroe Petroleum Norge has secured a well drilling permit from the Norwegian Petroleum Directorate (NPD) to explore well 30/6-30 of its Rungne PL825 licence in the North Sea.

The drilling will begin after completion of wildcat well 35/11-21 A for Wellesley Petroleum, and will be carried out from the Transocean Arctic facility.

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The 30/6-30 well drilling permit is related to that of a wildcat well in the 825 licence. The 30/6-30 well will be drilled approximately 7km north of the Oseberg field.

The Rungne licence is situated between the Oseberg Øst and Huldra Fields in the eastern Rungne Sub-basin located in the Viking Graben.

"Faroe Petroleum is the operator with 40% equity interest, while Lundin Norway and Spirit Energy Norge each hold 30% stake."

Faroe Petroleum was awarded the Rungne-PL825 licence in January 2016 along with five other prospective exploration licences.

The company’s portfolio comprises more than 60 exploration, appraisal, development and production licences across the West of Shetland, the North Sea, Norwegian Sea and the Celtic Sea in the UK, Norway and Ireland.

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Its portfolio in Norway includes multiple licences across the Norwegian Sea. Some of these licences include Århus-PL908, Brage-PL053 B/PL055/PL055 B/PL055 D/PL185, Fogelberg-PL433 and Oda-PL405.

Faroe Petroleum was awarded the Rungne-PL825 licence in January 2016 along with five other prospective exploration licences.

The additional licences were PL836S Yoshi with 30% interest, 20% in PL845 Grønøy High and PL644B Aerosmith licence extension with 20% working interest. All these are located in Norwegian Sea.

Besides Rungne, the other licences located in Norwegian North Sea were PL811 Gullaxy with 20% interest, and PL810 Katie, in which Faroe has 40% and is the operator.