Global Upstream Scouting | Europe | Faroes Exploration Application, COP Mulls Norway Exit
ConocoPhillips have received an unsolicited offer for their $7B Norway+Teesside business. Why does the transaction makes sense? Who is likely the suitor, and which other potential buyers could surface, now that COP have taken the package to the market? In the Faroe Islands, minnow Atlantic Petroleum (ATLA-DKK) has applied for 16 frontier blocks – on behalf of an unnamed company currently under formation in which Atlantic expects to hold a 40% carried interest. Just across the border in the UK, Rosebank and Cambo field developments by Adura and Ithaca could potentially provide tieback…
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