Atlantic Petroleum (Faroe Islands)

Atlantic Petroleum P/F P/F is an oil and gas company situated in Tórshavn, Faroe Islands and has technical offices located in London (United Kingdom) and Bergen (Norway). It participates in exploration on the Faroese Continental Shelf, offshore Norway, Ireland, and United Kingdom. The company has production from three fields in the United Kingdom's sector of the North Sea and also participates in development projects.

For the United States company, see Atlantic Petroleum.
Atlantic Petroleum P/F
TypePartafelag
Nasdaq Copenhagen: ATLA DKK
ISINFO000A0DN9X4 
IndustryPetroleum
Founded1998
HeadquartersTórshavn, Faroe Islands
Key people
Ben Arabo (CEO), Birgir Durhuus (Chairman)
ProductsOil and gas exploration and production
RevenueDKK 422.5 million (2010)[1]
DKK 147.3 million (2010)[1]
DKK 109.1 million (2010)[1]
Total assetsDKK 671.8 million (end 2010)[1]
Total equityDKK 377.9 million (end 2010)[1]
Number of employees
around 30 (end 2013)[1]
SubsidiariesAtlantic Petroleum UK Limited
Atlantic Petroleum (Ireland) Limited
Atlantic Petroleum Norge AS (Norway)
Websitewww.petroleum.fo

History

Atlantic Petroleum was established in 1998 by 18 private Faroese investors.[2] It became the first listed Faroese company. In June 2005 Atlantic Petroleum was listed on the Iceland Stock Exchange (ICEX) and in October 2006 on Copenhagen Stock Exchange.[2]

Operations

In 2001, Atlantic Petroleum in the partnership with Amerada Hess, BG Group and DONG acquired two exploration licences in the United Kingdom Continental Shelf. Later four more assets were acquired in the United Kingdom Continental Shelf.[2] These assets include among others interests in Ettrick, Chestnut, and Blackbird fields.[3][4][5][6][7] In 2009, Atlantic Petroleum relinquished its stake in the Anglesey prospect of the United Kingdom sector of the North Sea.[8]

In 2005, Atlantic Petroleum acquired two exploration licences in the waters of Faroe Islands.[2] In Irish waters, Atlantic Petroleum has interests in Helvick, Hook Head and Ardmore fields.[9]

References
  1. "Annual Report 2010". Atlantic Petroleum. Retrieved 17 November 2011.
  2. "Atlantic Petroleum". Subsea.Org. Archived from the original on 2017-11-04. Retrieved 2010-08-29.
  3. "Atlantic Petroleum Commencing its First Field Development". OilVoice. 2010-08-10. Retrieved 2010-08-29.
  4. "FPSO Aoka Mizu arrives at Ettrick". Upstream Online. NHST Media Group. 2009-06-04. (subscription required). Retrieved 2010-08-29.
  5. "Sevan SSP 300 sails to Chestnut". Upstream Online. NHST Media Group. 2005-08-29. (subscription required). Retrieved 2010-08-29.
  6. "Blackbird sings for Nexen". Upstream Online. NHST Media Group. 2010-06-14. (subscription required). Retrieved 2010-08-29.
  7. "Atlantic Petroleum Announces Successful Appraisal of Blackbird Discovery". OilVoice. 2010-07-14. Retrieved 2010-08-29.
  8. "Atlantic walks away from Anglesey". Upstream Online. NHST Media Group. 2009-02-16. (subscription required). Retrieved 2010-08-29.
  9. "Providence Completes Heavy Oil Resource Assessment of the Ardmore Field, Offshore Ireland". OilVoice. 2010-05-18. Retrieved 2010-08-29.
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