Faroe Petroleum wins new licence prospects

Aberdeen-based Faroe Petroleum said it has been awarded four new prospective exploration licences, including two operatorships, on the Norwegian Continental Shelf.

Faroe Petroleum CEO Graham Stewart said: “We are very pleased to announce the award of four important new licences in the latest Norwegian licensing round.

“We have added new exploration plays to our portfolio as well as consolidating our position around the high quality 2016 Brasse discovery which we will be appraising later in 2017.

“We look forward to integrating these new licences into the exploration portfolio.

“The addition of good quality exploration acreage, our enhanced production portfolio and development pipeline ensures that we continue to expose our shareholders to balanced but high impact growth opportunities.”