Faroe Petroleum, the Aberdeen-based oil and gas independent said yesterday it had been awarded an important new licence in the Barents Sea.
The firm, focused principally on exploration, appraisal and production in the Atlantic margin, Norway and the UK, secured the rights in the 22nd Norwegian licensing round. Its licence covers the Dazzler prospect, 56 miles north-west of the recent Skrugard and Havis oil finds.
Faroe chief executive Graham Stewart said it helped to build the company’s strategic position in the Barents Sea.