Faroe Islands-based Atlantic Petroleum is to take over as operator of the Orlando and Kells licenses in the UK North Sea following operator Iona Energy going into administration.
Orlando and Kells are in UK North Sea licenses P.1606 and P.1607. Atlantic Petroleum's role as operator will be subject to any necessary approval of the UK's Oil and Gas Authority.
Ben Arabo CEO said: “The Orlando development and Kells are very important assets for Atlantic Petroleum and we will be working closely with the authorities, license partner and all stakeholders on the way forward on the assets. We look forward to updating further in the near future.”
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