Faroe Petroleum, an independent oil and gas company, 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, three licences in the northern North Sea in a very active exploration area with established production infrastructure, and two licences in the Egersund basin in the Norwegian North Sea, which will be a new area for Faroe Petroleum.
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