Faroe, Lundin, and Cairn awarded exploration licenses in Norway

Faroe Petroleum plc, Lundin Petroleum AB, and Cairn Energy have been awarded exploration licenses under the 2014 Norwegian APA (Awards in Pre-defined Areas) License Round.

Faroe has been awarded five new prospective exploration licenses, including one operatorship. Three of the new licenses in the area surround the company’s Pil and Bue discoveries. The other two are in the North Sea and are extensions to existing exploration licenses. Faroe will also be the operator of one of these awards: License PL676BS Firkløver extension – Block 25/7, 10.

Lundin Petroleum AB’s wholly owned subsidiary Lundin Norway AS has been awarded eight exploration license interests. The awards include six licenses in the North Sea, one license in the Norwegian Sea, and one license in the Barents Sea. Six of the awarded licenses will be operated by Lundin Norway AS.

Cairn Energy, through its wholly owned subsidiary Capricorn Norge AS, has also been awarded non-operated interests in five licenses in the Norwegian 2014 APA Licensing Round. These licenses do not carry firm well commitments and are in locations adjacent to the company’s current areas of interest in Norway.

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