Project Profile
Location: Block 7/11, Central North Sea, Norway
Licence Expiry Date: February 8, 2016
Start-up Year: -
Faroe Petroleum has been awarded a new prospective exploration licence under the 2013 Norwegian APA (Awards in Pre-defined Areas) Licence Round on the Norwegian Continental Shelf. Licence PL670 B Betula extension is located in Block 7/11 in North Sea, Norway. The Betula Prospect is an exciting opportunity in a mature and prolific area in the vicinity of the Jurassic Ula oil field in the Central North Sea. This new licence covers the southern extent of the Betula Prospect. The work programme is aligned with the PL670 Betula licence, and has no additional work commitments.
Operators:
Tullow Oil Norge AS (Tullow): Operator with 30% interest
Centrica Resources (Norge) AS (Centrica): 25% interest
Faroe Petroleum: 25% interest
Concedo ASA: 20% interest