Local Business Faroe to ramp up exploration, pursue M&A opportunities as profits appear By Mark Lammey September 18 2018, 9:36 am September 18 2018, 9:36 am Share Faroe to ramp up exploration, pursue M&A opportunities as profits appear Share via Facebook Twitter Whatsapp Messenger Linkedin Email Post link https://www.pressandjournal.co.uk/fp/business/local/1565363/faroe-to-ramp-up-exploration-pursue-ma-opportunities-as-profits-appear/ Copy Link Faroe Petroleum will participate in seven wells by the end of next year as the North Sea oil firm “ramps up” exploration activity. The Aberdeen-headquartered company said it was taking advantage of competitive rig rates and a Norwegian tax incentive for exploration. London-listed Faroe intends to raise its average daily production to 35,000 barrels of oil from 12-14,000 in the medium term. Read more on Energy Voice here.
