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Atlantic Petroleum
P.O. Box 1228
FO-110, Tórshavn
Faroe Islands
www.petroleum.fo
Contact:  Wilhelm Petersen
Phone:    298 350100
Fax:        298 350101
Email:     Send an email

Atlantic Petroleum, oil and gas exploration company
In February 1998 the oil and gas company P/F Atlantic Petroleum was founded by eighteen Faroese investors. The idea behind the establishment of the company was to use the upcoming first Faroese licensing round as a basis for becoming a partner in a strong group of oil and gas companies. In this way Atlantic Petroleum would acquire the necessary skills and knowledge to become a competitive and independent upstream oil and gas company. In return P/F Atlantic Petroleum would be the partner’s local business adviser. In January 1999 a co-operation agreement was signed with the Faroes Partnership, and a year and a half later, in August 2000 the Partnership was awarded licence no. 001 in the first Faroese licensing round. The strategy had proven to be successful so far. The company’s starting point was the Faroese sector, but one of the long term strategic goals was to expand the activity into UK waters. In October 2001, with the approval from the British authorities, Atlantic Petroleum could formally join Amerada Hess, British Gas and DONG in two exploration licenses awarded in the 19th UK licensing round. Since the entrance into the UK sector in 2001, four more UKCS assets have been added to the portfolio, three of which contain fields which will be developed within the next years. In addition, two more Faroese exploration licences were awarded in 2005. In June 2005 Atlantic Petroleum was listed on the Icelandic Stock Exchange (ICEX) which cooperates with the Faroese Securities Market (VMF). And in October 2006 the Company was listed on OMX Copenhagen Stock Exchange.

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Atlantic Petroleum Company Tags: Atlantic Petroleum Tórshavn, Faroe Islands, Faroese Oil Company, Wilhelm Petersen, Atlantic Petroleum, Petrolium, kolvetni, olja, oil, gas, hydrocarbons, exploration.

Atlantic Petroleum categories Atlantic Petroleum can be found in these categories:
1. exploration and production » oil gas exploration








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