Atlantic Petroleum Submits Application for Faroe Islands Exploration Licence
News related to:P/F Atlantic Petroleum · 2 min read
Today, P/F Atlantic Petroleum (Nasdaq Copenhagen: ATLA DKK) announced the submission of an Application for an Exploration and Production Licence in the Faroe Islands under the Open Door Licensing Regime. The company, through an associated company currently under formation, has submitted this application to Jarðfeingi, the licensing authority for the Faroe Islands. Atlantic Petroleum will hold a 40% carried equity interest in the company applying for the licence.
This move comes as part of the company's ongoing exploration and production activities in the Faroe Islands, which have been a key focus for the company in recent years. The Open Door Licensing Regime, a transparent and competitive process, allows for a diverse range of companies to participate in the licensing process, fostering a robust and inclusive environment for exploration and production in the region.
The application submission is a significant step in Atlantic Petroleum's strategy to expand its presence in the Faroe Islands. This move is expected to open up new opportunities for the company to explore and potentially exploit the vast hydrocarbon reserves in the region. The submission of the application under the Open Door Licensing Regime is a testament to Atlantic Petroleum's commitment to the Faroe Islands and its ongoing efforts to contribute to the economic and energy development of the region.
Following the submission of the application, a public notice will be issued by Jarðfeingi announcing the receipt of the application. Other interested parties will then have the opportunity to apply for the same area or parts thereof, subject to an application deadline of at least ninety days from the date of the public notice. This process ensures that the licensing process remains open and competitive, allowing for a diverse range of companies to participate and contribute to the exploration and production activities in the Faroe Islands.
The announcement, together with other information about Atlantic Petroleum, will be available on the company's website: www.petroleum.fo. Announcement no.15/2026 was issued on 30-09-2026. P/F Atlantic Petroleum's contact information is as follows: P.O. Box 1228, FO-110 Tórshavn, Faroe Islands.