Faroe Petroleum secures £300m bank funding

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Source: Daily Business Group 20 December 2016

Faroe Petroleum, the oil and gas company, has signed a near- £300 million refinancing package which will underpin the company’s growth plans.

A £200 facility has been agreed to finance assets and approved capital expenditure, operating costs and acquisitions, while a £92.5m loan will finance the majority of Faroe’s exploration and appraisal costs on the Norwegian Continental Shelf.

Source article here



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