Aberdeen-headquartered Faroe Petroleum has been given consent to drill the Brasse East well off the coast of Norway.
The oil firm agreed to book the Transocean Arctic semi-submersible rig to drill the prospect in May.
Norway’s Petroleum Safety Authority has now given consent to drill the prospect this month, with operations expected to last 38 days.
Faroe said a successful well campaign at Brasse Easy could add 31million barrels of oil net to its portfolio.
The Aberdeen firm is operator with a 50% stake, while the remaining interest is held by Point Resources.
Earlier this year, chief executive Graham Stewart said: ““If successful the Brasse East well could contribute significant additional hydrocarbons, thereby potentially adding further value to this attractive flagship development project.”
Last month Faroe also received consent to drill the Rungne prospect which is also in the Norwegian North Sea.
Rungne is estimated to hold 70million barrels of oil equivalent.