Parkmead, the North Sea-focused oil and gas group, has dropped its Perth development due to a lack of funding appetite and tightening regulations offshore.
UK: Pharis Energy changes name to Orcadian Energy
16 Apr 2021
Pharis Energy, the North Sea focused, oil and gas development company, has announced that it is changing its name to
Orcadian Energy (CNS).
Orcadian is a reference to the beautiful Orkney Islands, which have long hosted the Flotta terminal, where the Company could land some of the oil from its latest licence award in partnership with Parkmead. Orcadian is also a tip of the hat to the Orca which builds on the cetacean theme of Orcadian’s oilfields on the Western Platform namely,
Pilot, Harbour, Narwhal and the
Bowhead prospect.
Steve Brown, CEO of Orcadian commented: