Aberdeen-based North Sea oil firm Faroe Petroleum has scooped 10 new licences in the latest Norwegian round.
The company was one of the largest beneficiaries, along with Centrica, in the round, which saw a record number of licences issued.
The award sees Faroe pick up five new North Sea licences, including one in the northern North Sea near the existing Brage field infrastructure.
It also picked up five in the Norwegian Sea, including one in a new area east of the giant Ormen Lange field.
“Faroe has again been very successful in its licence application strategy, and this award is the largest to date for the company, and indeed in the entire APA round, alongside Statoil and Centrica,” said chief executive Graham Stewart.
“This demonstrates the strength of our reputation in Norway and further positions us as having one of the largest licence portfolios on the Norwegian Continental Shelf.
“Faroe Petroleum has built a strong and sustainable exploration company, with Norway at centre stage. Our significant Norwegian portfolio has a diversified mix of both near-field and frontier opportunities, from which we can high-grade the best prospects for drilling.”
A total of 50 companies applied for production licences, with 49 being offered shares in at least one of them.
Recommended for you
