On 25 June the Faroese Trade and Industry Minister awarded six blocks to DONG Energy in the Open Door Licence Round. The awarded blocks are located in the Faroe-Shetland Basin, west of the producing British fields Foinaven and Schiehallion, and DONG Energy has been awarded operatorship and a 100% interest.
Together with the recent licence award in the UK 27th Licence Round, this new award confirms that DONG Energy’s oil & gas business, DONG E&P, is a major player in the Faroe Islands and in the UK “West of Shetland” region, and it also confirms that DONG E&P is the company with most licence interests in this prospective region.
Exploration Director Søren Blegvad Andersen, said:
“I’m really pleased with this licence award, and our operatorship offshore the Faroe Islands. The awarded blocks are located in a basin where we have identified a number of attractive prospects close to existing fields. We look forward to unravel the prospectivity of this area over the coming years, using new 3D seismic data and special in-house processing techniques”.
Since the first Faroe Island licence round in 2000, DONG E&P has been active as exploration partner in a number of licences offshore the Faroe Islands, including the first oil discovery, Marjun.
“This award is a result of our long-term exploration strategy, where the Atlantic Margin plays an important role for future growth. Based on our continued exploration efforts we have a leading position in this region,” said Jan Terje Edvardsen, Senior Vice President and head of exploration activities in DONG Energy.
Press Release, June 26, 2013