Faroe

Oil & Gas

Atlantic heads back to profit

Atlantic Petroleum, a Faroese oil and gas exploration and production firm with interests in UK, Irish and Norwegian waters, said yesterday it was heading back to profitability after losses in 2016.

Oil & Gas

Faroe Petroleum completes acquisition of Roc Oil

Faroe Petroleum has completed the acquisition of Roc Oil which holds a 12% interest in the Enoch and Blane interests in the UK North Sea. The company said the deal, which had an initial consideration of $17million, had now been reduced to $13.7million. The Enoch field is currently suspended but is planned to come back on stream in the second quarter of 2015.