Oil & Gas News
A raft of oil majors and smaller independents has been awarded licences, alongside state-owned behemoth Statoil, in Norway?s latest licensing round in mature areas. The licences are widely scattered with 34 located in the North Sea, 22 in the Norwegian Sea and four in the Barents Sea. Licence interests are being offered to a total of 42 companies, out of 43 bidders, with 27 of these in line for operatorships.
Faroe Petroleum (LON:FPM) PLC (FPM LN, 166.0p, ? 2.95%) today announced that it has been offered seven new prospective exploration licences on the Norwegian Continental Shelf under the 2011 Norwegian APA Licence Round. The Company has been awarded two licences in the prolific Halten Terrace hydrocarbon province of the Norwegian Sea ? Licence PL645 and PL644 - and will work with Centrica, OMV, Repsol, and Skagen. Faroe Petroleum has also been awarded three licences in the northern North Sea. These licences offer exciting exploration opportunities in a very active exploration area with established production infrastructure - Licence PL414B, PL627, and PL629. Although being a new area for Faroe Petroleum, the Company has also been awarded two licences in the Egersund basin in the Norwegian North Sea ? Licence PL621 and PL620. These awards see Faroe Petroleum enter a number of exciting new joint venture relationships, and continue its very successful working relationship with Centrica, with whom it has made three discoveries in the past two years.
Valiant Petroleum (LON:VPP) PLC (VPP LN, 435.0p, ? 1.16%) today announced that its wholly owned subsidiary, Valiant Petroleum Norge AS, has been awarded operatorship and a 50% interest in Licence PL 617, Block 2/9 on the Norwegian Continental Shelf as part of the APA 2011 Licensing Round. The other partners are Premier Oil Norge AS (35%) and Bridge Energy Norge AS (15%). The award represents Valiant's first operated block in Norway.
Pancontinental Oil & Gas NL (PCL AU, A$ 0.08, ? 1.2%) today announced that the 3D and 2D seismic survey acquisition has been completed in offshore Kenya licence areas L10A and L10B. The licences were awarded to Pancontinental and the other venture partners on 17 May 2011, with an effective date of 15 August 2011. The 3D seismic survey was carried out in the eastern portion of the areas commencing in November last year and…
