|Strategies and objectives
Atlantic Petroleum is a fyll cucle E&P company active in all phases of the E&P value chain. Atlantic Petroleum continually seeks to build and optimise its licence portfolio by developing and maturing existing licences, by acquiring new licences through licensing rounds or by farming into licences held by other companies.
In the short term, the Company will focus on offshore opportunities in mature exploration areas in North West Europe, particularly the North Sea. In the longer term, as the understanding of the hydrocarbon systems of the Faroese Continental Shelf matures, the Company expects to make further investments in this area. Overall, Atlantic Petroleum strives to balance its portfolio to ensure a steady flow of projects coming into production as replacement for reserves already produced.
Atlantic Petroleum enters into strategic partnerships with other E&P companies in the development of its licences. Partnerships enable sharing of geological and operational knowledge and also reduce capital expenditures and project risk. Atlantic Petroleum’s ideal interest in licences is in the range of 10% to 30%, depending on the opportunity.