Faroe Petroleum Awarded Eight Exploration Licences in Norway

Source: www.gulfoilandgas.com 1/16/2018, Location: Europe

Faroe Petroleum, the independent oil and gas company focussing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce that it has been awarded eight new prospective exploration licences, including four operatorships, in the Norwegian North Sea under the 2017 Norwegian APA (Awards in Pre-defined Areas) Licence Round.

Licence PL926 Blue Libelle – Blocks 33/9, 33/12 and 34/10: Faroe (40% and operator), DNO (30%) and Concedo (30%): The Blue Libelle is on the Tampen Spur on the north-western margin of the North Viking Graben. It is a structural prospect of Middle Jurassic age sandstones that sits between the producing fields Statfjord and Gulfaks. The work programme involves acquiring and/or reprocessing 3D seismic data and a drill or drop decision by February 2020.

Licence PL908 Arhus – Block 9/11, 9/12, 10/10 and 10/11: Faroe (30%), Statoil Petroleum (70% and operator): The ?rhus Prospect is located in the ?sta Graben, north of the Trym Field in the Central Graben where various targets in the Oligocene Vade Formation have been mapped. The work programme involves the acquisition of new 2D data with Electromagnetic data and a drill or drop decision by February 2020.

Licence PL906 Skr?metindan – Blocks 7/11 and 7/12: Faroe (20%), Aker BP (40% and operator), Maersk (20%) and Statoil (20%): The Skr?metindan Prospect is located on the Cod Terrace in the Central Graben. It is a structural prospect of Jurassic age containing sandstones in the Ula Formation. The work programme involves acquiring and reprocessing 3D seismic with a drill or drop decision by February 2020.

Licence PL006 E SE Tor Extension – Block 2/5: Faroe (85% and operator), AkerBP (15%): This licence contains a portion of the Paleocene Gomex exploration target which extends outside the existing SE Tor Licence. The work programme is the same as the existing PL006C SE Tor.

Licence PL810 B Katie Extension – Blocks 2/1 and 8/10: Faroe (40% and operator), Spirit Energy (30%) and AkerBP (30%): The licence contains the north-eastward extension of the Katie Prospect located on the eastern side of the Oda Development. The work programme is the same as the existing PL810 Katie Licence, involving seismic reprocessing and a drill or drop decision by February 2019.

Licence PL740 C Brasse North Extension – Blocks 31/4: Faroe (50% and operator), Point Resources (50%): The licence contains the northward extension of the Brasse Extension on the eastern side of the Brage Field. The work programme is the same as the existing PL740/B Brasse Licence (Faroe 50%).

Licence PL065 B Tambar Extension – Block 1/3: Faroe (45%), AkerBP (55% and operator): This licence contains a potential north-westward extension of the Tambar Field. The work programme is the same as the existing PL065 Tambar licence.

Licence PL019 E Ula Extension – Block 7/12: Faroe (20%), AkerBP (80% and operator): The licence contains a potential eastward extension of the Ula Field. The work programme is the same as the existing PL019 Ula Licence.

Graham Stewart, Chief Executive of Faroe Petroleum, commented:

“We are very pleased to announce the award of eight new and prospective licences in the latest Norwegian licensing round. We have further consolidated our position in core areas of the Norwegian continental shelf in which we have delivered recent exploration success.

“We look forward to high-grading these new licence opportunities in the coming period. This good quality new exploration acreage, together with our enhanced production portfolio and development pipeline, ensures that our shareholders are exposed to a well balanced and sustainable set of growth opportunities going forward.

“Faroe has a material and exciting drilling programme in 2018. We are currently drilling the Iris and Hades exploration well in the Norwegian Sea, to be followed by the Fogelberg appraisal well. Two further exciting Norwegian exploration wells, Rungne and Cassidy, are planned to be drilled in the second half of 2018.”


India >>  4/13/2021 - Oilex has announced that all necessary approvals from the Government of India (GoI) for the sale of its Participating Interest (PI) in the Bhandut PSC...
United Arab Emirates >>  4/13/2021 - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has announced the acquisiti...

United States >>  4/12/2021 - Further to the company announcement issued on 4 December 2020, Ørsted has now completed the divestment of 25% of the Ocean Wind Offshore Wind Farm to ...
Vietnam >>  4/12/2021 - Eni, through its affiliate Eni Vietnam, has completed the acquisition from Krisenergy (Vietnam 115) Ltd. of a 100% participating interest and the oper...

Brazil >>  4/9/2021 - Petrobras concluded the sale of its entire 49% stake in Eolica Mangue Seco 1 - Geradora e Comercializadora de Energia Eletrica SA (Eolica Mangue Seco ...
Brazil >>  4/8/2021 - Enauta Participacoes S.A. (Enauta) informs its shareholders and the market in general that, following the material fact published on December 21, 202...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.