Atlantic Petroleum (Faroe Islands)
Encyclopedia
Atlantic Petroleum P/F is an oil and gas company situated in Faroe Islands
. It participates in exploration on the Faroese Continental Shelf and offshore Ireland
, and in exploration, appraisal and development in the United Kingdom
's sector of the North Sea
.
(ICEX) and in October 2006 on Copenhagen Stock Exchange
.
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.
Faroe Islands
The Faroe Islands are an island group situated between the Norwegian Sea and the North Atlantic Ocean, approximately halfway between Scotland and Iceland. The Faroe Islands are a self-governing territory within the Kingdom of Denmark, along with Denmark proper and Greenland...
. It participates in exploration on the Faroese Continental Shelf and offshore Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
, and in exploration, appraisal and development in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
's sector of the North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
.
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 ExchangeIceland Stock Exchange
NASDAQ OMX Iceland or ICEX was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central bank. Trading began in 1986 in Icelandic government bonds, and trading in equities began in 1990. Equities trading increased rapidly thereafter...
(ICEX) and in October 2006 on Copenhagen Stock Exchange
Copenhagen Stock Exchange
The Copenhagen Stock Exchange or CSE is an international marketplace for Danish securities, including shares, bonds, treasury bills and notes, and financial futures and options...
.
Operations
In 2001, Atlantic Petroleum in the partnership with Amerada Hess, British GasBritish Gas
British Gas is the name of several companies:* British Gas plc, the former gas monopoly in the United Kingdom and its successor companies** Centrica, which has the rights to the British Gas name in the UK...
and DONG
DONG Energy
-History:The Danish state company Dansk Naturgas A/S was founded in 1972 to manage resources in the Danish sector of the North Sea. After some years, the company was renamed to Dansk Olie og Naturgas A/S . At the beginning of 2000s, DONG started to extend itself into the electricity market by...
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.