Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Faroe Petroleum sets sights on Brasse after string of licence awards

Faroe's board has told shareholders to accept DNO's final offer
Faroe said the offer looks to "exploit the recent oil price fall"

Faroe Petroleum confirmed it was streamlining its efforts to focus on its “high quality” Brasse discovery.

It comes after the firm picked up four licence awards in the latest Norwegian bidding round.

Chief executive 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.”

Three of the licences were awarded in the Norwegian North Sea and one in the Norwegian Sea.

Blocks 31/4 and 31/7 could serve as the possible northward extension of the Brasse Discovery on the eastern side of the Brage Field, according to Faroe.

Licence PL870 includes the Pabow Prospect, which is located on the edge of the Stord Basin, just East of the Shango licence. The main prospect is a large stratigraphic closure of Upper Jurassic Ula reservoir sands. The work programme consists of studies before a drill or drop decision in 2018.

A further licence includes the Goanna Prospect, which is located on the Tampen Spur on the north-western margin of the North Viking Graben. It is a structural and stratigraphic prospect of Upper Jurassic age sandstones. The work programme involves the acquisition of 3D data and a drill or drop decision by 2018.

More from Energy Voice

Latest Posts