Recommencement of production & infill programme at Tambar Field, Norway

13th December 2017

Faroe Petroleum plc

("Faroe", "Faroe Petroleum" or the "Company")

Recommencement of production and Infill Programme at the Tambar Field, Norway

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, reports that production from the Tambar field in Norway (Faroe 45%) has recommenced, following the tragic accident on the Maersk Interceptor drilling rig on Thursday, 7 December 2017.

The Tambar infill and gas lift installation programme has also recommenced. A full investigation into the accident on the Maersk Interceptor is  being undertaken by the authorities and the Tambar operator (AkerBP).

With the resumption of all activities at Tambar, Faroe's production guidance for the year remains unchanged at 13,000 to 15,000 boepd.

- Ends -

For further information please contact:

Faroe Petroleum plc Graham Stewart, CEO Tel: +44 (0) 1224 650 920
Stifel Nicolaus Europe Limited Callum Stewart / Nicholas Rhodes / Ashton Clanfield Tel: +44 (0) 20 7710 7600
BMO Capital Markets  Neil Haycock / Tom Rider / Jeremy Low Tel: +44 (0) 207 236 1010
FTI Consulting Edward Westropp / Emerson Clarke Tel: +44 (0) 20 3727 1000

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