Press

Faroe Petroleum: Eight Exploration Licences Awarded in Norway


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 Århus – Block 9/11, 9/12, 10/10 and 10/11: Faroe (30%), Statoil Petroleum (70% and operator): The Århus Prospect is located in the Åsta 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 Skræmetindan – Blocks 7/11 and 7/12: Faroe (20%), Aker BP (40% and operator), Maersk (20%) and Statoil (20%): The Skræmetindan 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.”


Visit source site

fp.fo/news/eight-exploration-licences-awarded-in-n...

Faroe PetroleumNorwayLicences AwardedExploration LicenseAFBE-UK ScotlandUnited KingdomNorth Sea

More items from oilvoice


Falcon Oil & Gas - Four additional potential plays in the Beetaloo Basin, Australia

Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG, ESM: FAC) is pleased to report that Origin Energy Limited ("Origin") presented a technical paper, headlined - "Australia's premier shale basin: 5 plays 1,000,000,000 years in the making", at the Australian Petroleum Production and Exploration Association (" ...

OilVoice Press - OilVoice


Posted 5 days agoPress > Falcon Oil & GasBeetalooAustralia

Mayan Energy - Development of Zink Ranch Field, Oklahoma

Mayan (AIM: MYN), the AIM listed oil and gas company, is pleased to announce that the Company has concluded discussions with its Farm-In partner and consequently will now revert back to retaining a 100% working interest in the Zink Ranch Field in Osage County, Oklahoma ('Zink Ranch' or the 'Field') ...

OilVoice Press - OilVoice


Posted 5 days agoPress > Mayan EnergyOklahoma

Touchstone announces an operational and drilling update

OPERATIONAL AND DRILLING UPDATE  Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) announces an operational and drilling update. Highlights Achieved first quarter 2018 average crude oil production of 1,543 barrels per day ("bbls/d"), a 21% increase relative to the ...

OilVoice Press - OilVoice


Posted 6 days agoPress > Touchstone ExplorationCalgary

Nostra Terra - Permian Basin - C8 Operations Update

Permian Basin - C8 Operations Update  Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, announces that it has shut down operations at the C8 Well ("C8"), having unexpectedly encountered a high pressure inflow of salt wate ...

OilVoice Press - OilVoice


Posted 6 days agoPress > Nostra Terra Oil & GasPermian BasinAIM

United Oil & Gas - Completion of 3D seismic survey on Tullow Oil-operated licence, offshore Jamaica

Completion of 3D seismic survey on Tullow Oil-operated licence, offshore Jamaica  Highlights First 3D seismic survey in Jamaica completed over Walton-Morant licence ahead of schedule  Focused on de-risking multiple structures to drill-ready status including Colibri, a high grade target estima ...

OilVoice Press - OilVoice


Posted 6 days agoPress > United Oil & GasTullowJamaica
All posts from oilvoice