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Atlantic Petroleum (Faroe Islands)

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Type  Partafelag
Headquarters  Tórshavn, Faroe Islands
Industry  Petroleum
Founded  1998
Atlantic Petroleum (Faroe Islands) httpsuploadwikimediaorgwikipediaenthumb3
Traded as  Nasdaq Iceland: FO-ATLA, FO-ATLA CSE
Key people  Ben Arabo (CEO), Birgir Durhuus (Chairman)
Products  Oil and gas exploration and production
Revenue  DKK 422.5 million (2010)
Stock price  ATLA-DKK (CPH) DKK 11.60 0.00 (0.00%)28 Feb, 4:53 PM GMT+1 - Disclaimer
Parent organization  Sun Atlantic Refining and Marketing B.V.

Atlantic Petroleum P/F is an oil and gas company situated in Tórshavn Faroe Islands and has technical offices located in London (UK) and Bergen (Norway). It participates in exploration on the Faroese Continental Shelf, offshore Norway, Ireland, and United Kingdom. The company has production from three fields in the United Kingdom's sector of the North Sea and also participates in development projects.

Contents

History

Atlantic Petroleum was established in 1998 by 18 private Faroese investors. It became the first listed Faroese company. In June 2005 Atlantic Petroleum was listed on the Iceland Stock Exchange (ICEX) and in October 2006 on Copenhagen Stock Exchange.

Operations

In 2001, Atlantic Petroleum in the partnership with Amerada Hess, BG Group and DONG acquired two exploration licences in the United Kingdom Continental Shelf. Later four more assets were acquired in the United Kingdom Continental Shelf. These assets include among others interests in Ettrick, Chestnut, and Blackbird fields. In 2009, Atlantic Petroleum relinquished its stake in the Anglesey prospect of the United Kingdom sector of the North Sea.

In 2005, Atlantic Petroleum acquired two exploration licences in the waters of Faroe Islands. In Irish waters, Atlantic Petroleum has interests in Helvick, Hook Head and Ardmore fields.

References

Atlantic Petroleum (Faroe Islands) Wikipedia


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