The drilling operation, which is expected to be completed in the fourth quarter of 2011, is being undertaken by Centrica as operator using the Maersk Guardian rig.
The Butch prospect is a stratigraphic pinch-out trap resting on the side of a salt dome and the primary target is the upper Jurassic Ula Formation which is the producing reservoir in the Ula, Tambar and Gyda fields.
Faroe Petroleum holds a 15% interest in the Butch prospect, while Centrica, Suncor, Spring Energy Norway hold 40%, 30% and 15% interests, respectively.
