Dong Energy announced June 25 it was awarded six oil and gas exploration blocks by the Faroese Trade and Industry Minister. According to the company, the blocks, awarded in the Open Door License Round, are located in the Faroe-Shetland Basin offshore the Faroe Islands.
The blocks are also located west of the Foinaven and Schiehallion fields. Dong holds operatorship and a 100 percent interest in the blocks.
"This award is a result of our long-term exploration strategy, where the Atlantic Margin plays an important role for future growth," said Jan Terje Edvardsen, senior vice president and head of exploration activities. "Based on our continued exploration efforts we have a leading position in this region."
Exploration Director Soren Blegvad Andersen said Dong will use 3-D seismic data and special in-house processing techniques for exploration.
Learn more about oil and gas exploration and production in the Faroe Islands in PennEnergy's research area.