An Aberdeen-headquartered firm has made a huge breakthrough in its mission to become a dominant force in the oil-well decommissioning market.
Parkmead Group boss Tom Cross said yesterday the Aberdeen-based oil firm would “take its own path” to growth as North Sea newcomers battle over assets.
Oil firm Faroe Petroleum has announced the departure of five directors, including chief executive Graham Stewart.
DNO could become a “more dominant player” in the North Sea with its takeover of Faroe Petroleum, according to an analyst.
Norway's DNO is on track to seize control of Aberdeen-headquartered oil company Faroe Petroleum.
Norwegian firm DNO has urged its takeover target, Faroe Petroleum, to provide "transparent and timely" operations updates.
Norwegian oil firm DNO said today that it had snapped up more equity in takeover target Faroe Petroleum.
Norwegian firm DNO said this morning that its offer for Faroe Petroleum's remaining shares had become mandatory after increasing its equity to 30%.
Faroe Petroleum’s future was hanging in the balance tonight after the deadline passed for a “hostile” takeover offer for the Aberdeen-headquartered oil firm.
DNO has threatened to withdraw its bid to acquire Aberdeen-based Faroe Petroleum if a decision is not made by January 2.
Faroe Petroleum is stepping up efforts to convince shareholders to snub a hostile takeover offer from Norwegian firm DNO.
Private-equity backed Azinor Catalyst said today that it had discovered oil at the Agar-Plantain well in the North Sea.
A Faroese delegation has been in Aberdeen last week for discussions with five key oil companies, the Oil and Gas Authority, Oil and Gas UK and at least one major subsea contractor regarding future Atlantic Frontier prospects.
Faroe Petroleum has today said it is “pleased” DNO has withdrawn a request seeking seats on its board.
Azinor Catalyst has announced drilling has started on the Agar/Plantain exploration well in the North Sea.
Faroe Petroleum said it is “very concerned” by actions from Norway’s DNO to “take control of its business".
Faroe Petroleum has farmed in to the Agar Plantain exploration well in the North Sea.
North Sea and Middle East-focussed operator DNO has announced a two-thirds increase in production from the Peshkabir field in Iraq.
Several oil explorers, including Aberdeen’s Faroe Petroleum, have said they are targeting “multiple new discoveries” following the latest North Sea licensing round.
Faroe Petroleum has announced that Norwegian authorities have approved the development plan for the Fenja field.
Faroe Petroleum should be braced for a takeover from Norway’s DNO, according to a leading analyst.
Norwegian oil and gas operator DNO has purchased a 15% stake in Aberdeen-based Faroe Petroleum.
Norway-focussed exploration firm Faroe Petroleum posted an increase in revenue in its 2017 results.
Aberdeen-based Faroe Petroleum has announced a 20% increase in reserves during an operational update for 2018.
Production has restarted at the Tambar field in Norway following the death of a worker.