Faroe Petroleum and Enegi Oil have been awarded new exploration and production licences in the UK’s 28th Offshore Licensing Round.
The exploration licences of Faroe cover the Fynn and Perth Field prospects, while Enegi Oil secured a production licence on Block 21/28b in the UK Central North Sea.
Go deeper with GlobalData
At Fynn, Faroe has been awarded a licence for Blocks 15/11 and 15/16d, with a 25% interest in the licence; Parkmead E&P, Verus Petroleum SNS and CalEnergy Gas each have a 25% stake.
Faroe has been awarded a licence for Block 14/25 of the Perth Field extension.
The company has a 34.6% stake in the venture behind the licence, with DEO Petroleum UK and Atlantic Petroleum UK holding 52.03% and 13.35% stakes respectively.
Faroe Petroleum chief executive Graham Stewart said: "Securing these two promising licences further extends our acreage position around the strategically important Perth/Dolphin/Lowlander development opportunity, in which Faroe holds a majority stake, and further diversifies our extensive exploration portfolio."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEnegi Oil has been awarded an exploration licence for Block 21/28b in the Fyne prospect in the North Sea, covering the Crinan and Dandy discoveries.
The company will have a 50% stake in the licence, alongside its partner Antrim Energy (UK), which will hold the remaining 50% interest.
Enegi Oil CEO Alan Minty said: "This licence was identified and applied for specifically for the discoveries that it contains, their close proximity to our existing Fyne Project, and the potential for them to be developed using our buoyant technologies."
.gif)
