Faroe Snaps Up Second License in Barents Sea

Faroe received the single largest license awarded within the Barents Sea in the 21st Norwegian License Round by the Norwegian Ministry of Petroleum and Energy. Partners in the license include Wintershall (operator, 40%), Faroe Petroleum (40%), and Petoro (20%).

The new license covers an area of about 518,921 acres (2,100 square kilometers) and is located within Blocks 7223/3, 7223/6 and 7224/1, 2, 3, 4 & 5. The license contains the Kvalross prospect, consisting of a wedge of clinoforms contained within a large structural closure. The license work program involves the acquisition of 3D seismic data, with a decision to drill to be taken within three years.  

continue reading the full article


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Contracts Administrator
Expertise: Contracts Administration
Location: Anacortes, WA
Sr. Project Manager
Expertise: Project Engineer|Project Management
Location: Odessa, 
Contract Specialist II
Expertise: Contracts Administration
Location: Midland, TX
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours