Pharis Energy Ltd, the North Sea focused, oil and gas development company, is delighted to announce that it is changing its name to Orcadian Energy (CNS) Ltd (“Orcadian”).
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:
“Pharis was a great name; but about a year after the company adopted that name, SOCO International renamed themselves Pharos Energy. We wanted to be distinctive, and in the end, we thought it better to rename ourselves.”
“Both our Chairman, Joe Darby, and I visited the Orkneys when we were involved with the stewardship of LASMO’s interests in the Piper & Claymore oilfields, which still produce through the Flotta terminal. They are a wonderful place, and we are delighted to adopt their name. We have made great strides in preparing Pilot for development and we look forward to providing updates as we progress our plans.”