Faroe wins eight Norwegian blocks

Norwegian waters: Faroe Petroleum has been awarded eight new exploration licences under the 2012 Norwegian APA licence round

NASA

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Danica Newnham

 16 January 2013 08:29 GMT

UK-listed Faroe Petroleum has won eight new exploration licences on the Norwegian continental shelf.

The company announced on Wednesday that under the 2012 Norwegian APA licence round it had been awarded five licences in the North Sea, two in the northern North Sea and one licence in the Norwegian Sea. Faroe will operate three of the licences.

Faroe chief executive Graham Stewart said the blocks brought the company’s total acreage position in Norway to 32 licences, giving Faroe the largest licence position of any UK independent operating in the country.

“These licences contain a wide range of play types and risk profiles,” he added.

In the North Sea,…

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