Faroe sells interest in Glenlivet to Total

Offshore staff

LONDON – Faroe Petroleum plc has sold to Total E&P UK Ltd a 10% interest in the undeveloped west of Shetland Glenlivet gas field.

A portion of the proceeds is deferred until the submission of the field development plan, and certain production targets are met. The sale has an effective date of Jan. 1, 2014.

Glenlivet is planned for development in conjunction with the Edradour field as part of the wider west of Shetlands Laggan and Tormore gas development, sanctioned in 2010 and operated by Total. The company also operates Edradour and recently acquired a 60% interest in Glenlivet along with operatorship from DONG E&P UK Ltd.

Glenlivet field is in the Faroe Shetland basin in water depths of around 1,640 ft (500 m), about 22 mi (35 km) northeast of the Laggan gas field and 12 mi (19 km) north of the Edradour gas discovery.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...