15 Jul 2016 08:33
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Faroe Petroleum Plc Information
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Don't have an account? Click here to register.Faroe Petroleum wins six Norwegian offshore licences
Wed, 20th Jan 2016 14:54
(ShareCast News) - Faroe Petroleum said it had been awarded six new Norwegian exploration licences.The independent oil and gas company said it won the licences, which include two operatorships, under the 2015 Norwegian APA (Awards in Pre-defined Areas) Licence Round on the Norwegian Continental Shelf.Chief executive Graham Stewart said the award would add further upside potential to Faroe's portfolio."Significantly, we have further consolidated our position in core areas of the Norwegian continental shelf in which we have enjoyed recent exploration success, enhancing our acreage positions near and around the greater Njord Areas and the Butch development project," he said."At this stage no well commitments have been offered and should we and our partners progress these toward exploration drilling, Faroe continues to benefit from the Norwegian tax system whereby 78% of all exploration related expenditure is eligible for a tax rebate in the following year.""Faroe has a material and exciting drilling programme in 2016; we are currently drilling the Kvalross exploration well in the Barents Sea and have two further firm wells in the Norwegian Sea later in the year.""Coupled with strong production, a solid cash position and largely un-utilised credit facilities we are confident in our ability to take advantage of opportunities which the current depressed oil price environment presents."
More News
11 Jul 2016 15:33
Faroe Petroleum confirms Brasse discovery
(ShareCast News) - Faroe Petroleum has confirmed its Brasse oil and gas discovery in the Norwegian North Sea. The discovery was made at licence PL740 in the Norwegian North Sea where the AIM-Listed company is 50% owner and operator. The Brasse side-track reached a total depth of 2,530 metres and en
Read more7 Jul 2016 14:45
Faroe Petroleum awarded new licence in Irish Atlantic margin
(ShareCast News) - Oil and gas company Faroe Petroleum was awarded a new three-year licence option in the Irish offshore by the 2015 Atlantic margin licensing round (AMLR). The 16/23 licensing option covers 960km in the Slyne/Erris Basin. It is one of the second tranche of awards made under the AMLR
Read more2 Jul 2016 02:11
UPDATE 1-Norway oil workers agree wage deal, avoid strike
* Norway oil workers agree wage deal * Employers and unions worked overtime to agree * Avoids strike that would have cut output (Adds quote, background) OSLO, July 2 (Reuters) - Norwegian offshore oil workers and employers signed a new wage deal on Saturday, avoiding a strike
Read more2 Jul 2016 01:54
Norway oil workers agree wage deal, avoid strike
OSLO, July 2 (Reuters) - Norwegian offshore oil workers and employers signed a new wage deal on Saturday, avoiding a strike that would have cut the output from western Europe's top oil and gas producer by about six percent, employers and unions said. Some 755 workers at fields operated by S
Read more28 Jun 2016 13:55
Union warns Statoil not to scale back agreements
OSLO, June 28 (Reuters) - Norwegian oil major Statoil must halt attempts to scale back existing labour agreements if it wants to prevent a strike that would hit output from July 2, a trade union said on Tuesday. About 755 Norwegian workers on seven oil and gas fields operated by Statoil, E
Read more27 Jun 2016 19:26
UPDATE 3-Norwegian unions say 755 oil and gas workers could strike
* July 1 deadline for Norway's oil wage talks * Fields produce 17-18 pct of Norway's output -Reuters calculation * Further escalation likely unless deal found (Updates ExxonMobil's comment) By Stine Jacobsen and Terje Solsvik OSLO, June 27 (Reuters) - About 755 Norwegian
Read more21 Jun 2016 15:04
21 Jun 2016 14:46
Barclays names Ophir Energy 'top-pick', upgrades Premier Oil
(ShareCast News) - Analysts at Barclays re-jigged their recommendations on European Exploration and Production companies in order to take into account the recent rise in crude oil prices and improved investor sentiment regarding companies´ ability to execute to plan operationally. In the process
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