Atlantic Petroleum is a North West Europe focussed Faroese exploration and production (E&P) company with offshore oil and gas interests in UK and Ireland. Atlantic Petroleum’s main office is located in Torshavn, Faroe Islands.
Currently the Group holds two licences containing three fields and a prospect. In addition to this the Group has retained economics interest in previously owned licences of the Orlando field and the Pegasus area.
The overall aim of Atlantic Petroleum is to maximise shareholders’ value by building a balanced licence portfolio to ensure a steady flow of projects coming on-stream to replace production whilst at the same time looking to participate in higher impact exploration opportunities.
Atlantic Petroleum achieves this through targeted acquisitions, entering into and leveraging strategic partnerships as well as participating in licencing rounds. The aspiration is to fund exploration and a portion of development activities from internally generated cash flow. Debt will be used to supplement internal resources for development.
Atlantic Petroleum’s key advantages and competencies include a competent and highly experienced Management and Board of Directors. The Group’s success is also driven by strong relationship with a broad network of international oil companies. By entering into strategic partnerships on licences the Group reduces risk and associated capital expenditures. Partnerships also enable a significant sharing of geological, geophysical and operational knowledge as well as costs.