The exploration well is located approximately 65m water depth in the Norwegian North Sea and near to existing infrastructure with the giant Ula field approximately 7km to the north-west, Tambar approximately 10km to the south west and Gyda approximately 20km to the south.
Located in a separate segment from both the Butch East well, the Butch Main oil discovery (Faroe 15%) comprises a light crude oil in a high quality reservoir, the Upper Jurassic reservoir of the Ula formation.
Faroe Petroleum chief executive Graham Stewart said that the company will report the results from exploration drilling on the Bue prospect (Faroe 25%) in the Norwegian Sea in close proximity to the recently announced significant Pil oil and gas discovery.
"We are pleased to announce the spudding of the Butch South West exploration well which, if successful, offers the potential to add substantially to the volumes and value of the Butch field, as the adjacent Butch Main field is already on track for near-term development,’ Stewart added.
Currently, the operator is working on a development plan for the Butch Main discovery alongside drilling the Butch South West well.
