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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Faroe Petrol. | LSE:FPM | London | Ordinary Share | GB0033032904 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 160.40 | 160.00 | 160.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
LONDON--Independent oil and gas company Faroe Petroleum PLC (FPM.LN) said Friday the Njord production facility has been selected as preferred concept for Pil & Bue development in Norway.
Faroe said the partners in the Pil & Bue discoveries (license PL586) have decided that a subsea development solution tied back to the Njord platform in the Norwegian Sea is the preferred concept for development of the Pil & Bue discoveries.
Faroe also holds a 25% stake in the Pil & Bue discoveries.
The Njord partners comprises; Statoil Petroleum AS which holds a 20% stake and is the operator, Engie E&P Norge AS has 40%, DEA Norge AS has 30%, Faroe Petroleum Norge AS holds 7.5% stake and VNG Norge AS has a 2.5% interest.
The Njord production facility is currently in Kvaerner's Stord facility in Norway undergoing extensive modifications in order to increase materially its operating life and accommodate a number of new satellite field tie-back developments including Pil & Bue.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet
(END) Dow Jones Newswires
November 04, 2016 03:55 ET (07:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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