Project Profile
Location: PL 645, offshore Faroe Islands
Water Depth: 298 metres
Exploration Start-up: 2013
The Novus prospect lies in PL 645 which was awarded to Faroe in the APA 2011 licensing round. Faroe operates the licence with a 50% stake and is partnered by Centrica and Skagen 44, which hold a 40% and 10% interest respectively. Spike Exploration Holdings and Concedo have acquired 15% and 5% shares respectively in the Norwegian Sea licence PL645. In return, the two will pay a carry of Faroe\'s costs associated with the Novus exploration well.
Operators:
Faroe Petroleum: Operator with 50% interest
Centrica: 40% interest
Skagen 44: 10% interest
Contractor:
Seadrill: Drilling contractor