Oil found off Shetland

Independent oil and gas company, Faroe Petroleum, has found oil in its first operated exploration well on the Fulla Prospect in the west of Shetland. The well, located 31 kilometres to the north east of the BP-operated Clair field platform, and reservoir quality is said to be better than expected. Graham Stewart, Chief Executive of […]

SSE in deal for North Sea oil and gas

Scottish and Southern Energy has taken a further step in its bid to become a player in the UK oil and gas sector. The company has signed a deal with independent oil and gas outfit Faroe Petroleum to identify, assess and acquire oil and gas assets in the North Sea. SSE has almost clinched its […]