Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, is pleased to announce that it has provisionally been awarded seven new exploration licences on the UK Continental Shelf in the UK's 27th Offshore Licensing Round.
Grouse Extension (Blocks 217/14 & 217/15) – Faroe Petroleum 37.5% and operator
This west of Shetland traditional licence is located in the North of the Faroe-Shetland Basin. The blocks contain the extension of the Company’s existing Grouse prospect, a large structural and stratigraphic trap within post‐basalt strata, in a new exciting exploration play in the west of Shetland area. The licence work programme for the Grouse Extension is to be confirmed but it is anticipated that it will tie in with the programme for the existing Grouse licence.
Glenfarclas (Blocks 208/21 (part), 208/26 & 214/30d) – Faroe Petroleum 33.34