Faroe Petroleum acquire a 21.96% interest in the Blane oil field from Eni
On 26 October 2010, Faroe Petroleum agreed to acquire an 21.96% interest in the Blane UK field from Eni. The consideration for the deal is £60 million (US$95 million) and it also includes the farm-out of a 20% interest in Faroe Petroleum's Faroese Licences 012 and 017 and UKCS licence P1740, covering acreage which straddles the UK/Faroe border. The effective date of the deal is 1 July 2010. The deal is subject to regulatory approval and the resolution of pre-emption rights. ...