Faroe Petroleum completes sale of Glenlivet Field interest

Faroe Petroleum

Faroe Petroleum has completed the sale of its 10% interest in the undeveloped Glenlivet gas field, West of Shetland.

The consideration for the sale of the Glenlivet interest is £10 million, with an effective date of Jan. 1, 2014, of which a proportion is deferred until the submission of the field development plan and certain production targets being achieved.

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