Exploration opportunities in the Faroe Islands

The exploration of the Faroese Continental Shelf (FoCS) saw a surge of activity in 2000, when the first offshore licensing round resulted in award of 7 licenses with a total of 8 commitment wells, a number of geophysical data acquisition commitments and a number of committed geological studies. The first drilling campaign, which only targeted one play in one basin, did not live up to the immense expectations. Much of the area and stratigraphic column has not been tested. Sub-basalt imaging problems were initially quoted as the reason to focus on the Judd Basin without basalt cover. It is demonstrated that sub-basalt imaging has improved to such an extent that large structures, which bear striking resemblances to structures on the UK side of the Faroe-Shetland Channel, can me mapped. An active hydrocarbon system exists in UK waters and geochemistry of seabed cores support extension into FoCS. Numerous reservoir sections have been proven in the West of Shelands offshore and by analogy may also be present on the neighbouring FoCS. A westerly sediment provenance, Greenland and/or the Faroese Platform is anticipated to dominate in large parts. The existence of basinwide seals has been proven by many wells and is considered a minor risk when exploring large sub-basalt structural traps on the FoCS.