THE Longboat Energy business founded by successful North Sea entrepreneurs has been awarded more North Sea acreage off Norway after making three finds in quick succession.

Longboat said it has been awarded a licence containing a possible extension to the Gambazola prospect, which it described as exciting.

The company was founded by members of the team that developed North Sea-focused Faroe Petroleum, which was acquired by DNO in 2019 following a £640 million hostile takeover bid.

Longboat made three finds off Norway last year, including one described as a material oil discovery.

READ MORE: Oil firm highlights uncertainty caused by Cambo controversy in UK as it drills off Norway

Chief executive Helge Hammer said the Aim market-listed firm is in an active period of drilling off Norway, with the Ginny Hermine well currently underway. He said each well in the firm’s 2022 programme has the potential to create very significant shareholder value.

Earlier this month Mr Hammer said the company is keen to grow in the UK as well as Norway.

However, citing the furore triggered by Shell’s plans to develop the Cambo find off Shetland, he noted: “We are worried about recent political comments/processes in the UK related to new oil and gas developments … which has created unnecessary uncertainty.”