because they will significantly influence where the next tranche of wells are drilled. With three ticked off so far, there are another five commitment wells to drill under the four six-year licences awarded [...] almost non-existent. There are not even references to the period in the 1993 Report of the Faroese Hydrocarbon Planning Commission to the Faroese Government. However, Arni Olafsson, for many years special adviser [...] guarantee the islands a place among the world?s oil and gas nations. Quite how this will be achieved is a question that will occupy many minds this winter as oil company geologists and others closely analyse
anniversary predictions are that it could last another quarter of a century. Every day existing technologies and methods are being challenged and new ones developed. Compa-nies are drilling deeper, further [...] industry in Aberdeen and Shetland are appearing in the Faroes. At times when the ?vacancies? signs might be expected to be on display Faroese hotels are full of oilmen carried there on the increasingly frequent [...] own and highly regarded Atlantic Airways. The oil companies are also beginning to focus on the prime office accommodation. There will be many challenges to the Faroese in the near future. Will the tourist
economic development projects. »The work has almost been done,« he said. »There are now so many businesses in Orkney that are growing and doing well. They provide us with the basis for future prosperity [...] t of Flotta inspired Bill Forsyth when he was writing and directing Local Hero,« he said. »There are so many parallels between what happens in the film and what actually occurred on Flotta and the sense [...] of lessons from the Shetland experience,« he said. »It meant that we got many of the benefits of oil developments without many of the less acceptable aspects.« »One of the big advantages here was the creation
resources of the islands and are regularly caught up in a mess of conflicting interests, ? retail prices and prices for services are considerably higher than what they are on the Scottish mainland, ? Shetland [...] ns are mounting to what extent the islands? massive oil terminal at Sullom Voe will be able to handle oil extracted from Faroese wells. A simple look at a map of the North East Atlantic reveals how close [...] construction of a similar oil terminal in Faroe. »If the Faroes discoveries are not big enough for a terminal in Faroe, then we are hopeful, that it should be viable to connect into Sullom Voe Oil Terminal
Portugal to Lofoten off Norway ? slow. There are few commercial discoveries to show for the enormous effort made, except in the Norwegian sector where results obtained are the most promising to date. And yet [...] offshore Faroes began last year, doubtless many citizens were hoping for an instant bonanza. Predictably, that boom did not materialise. No matter how much success there is during the pioneering phase, first [...] provide valuable data for the Faroese effort, whether or not it is successful. Naturally, there is no telling how lucky Agip, in partnership with Foroya Kolvetni, will be next year when it spuds the Marimas
recoverable over a 24-year period. Depending on how Phase-1 works out, further development is possible, with a recoverables target of 400mmb, though there is informal talk of more than 500mmb. Clair development [...] bpd of oil and 15 million cu.ft of gas. Ramping up oil production will be a gradual process as wells are progressively drilled using the platform?s own drilling package. One is being pre-drilled and will [...] west of Shetland. Platform fabrication is in the hands of Aker Kværner (jacket) and Amec (topsides). Many small suppliers and sub-contractors also have work and, overall, construction is comfortably past
pragmatism prevails and other, easier pickings are pursued, perhaps in the North Sea itself. Offshore Ireland is in many ways comparable to the Faroes. There, the same old miserably slow trudge drags on [...] seems more realistic. The field lies 70km offshore; its reserves are some 25 billion cu.m of gas. As for the Irish exploration effort, there are conflicting reports about the Dooish discovery. Is it potentially [...] greatest successes are currently being scored in the NW African state of Mauritania while, on the west side, the Canadian quest plods along unspectacularly, but is delivering modest results. There is no doubt
pension fund is located? This is just one of the many questions which must be settled before an agreement is signed. Over these past few years there are many examples of Nordic senior citizens, whose official [...] be divided”, says Mr Laksafoss. It normally takes a long time to reach such agreements, as there are so many aspects to take into consideration: –“As an example let me mentioned pension funds. Which country [...] in that area. Many birds nests to unravel - “Through this dual tax agreement you should never be taxed twice. On the other hand an agreement has been reached between the two countries how these tax revenues
world’s largest oil companies and the largest IT Company in the Faroes are in the final stages. Considerable savings for BP There will be considerable savings for BP as they modernise the communications [...] not a new idea. The demand for a permanent link ashore has been around for many years and a dialogue has been on-going on how to link oil platforms to the mainland. Already when the FarIce-cable was laid [...] more appropriately to the other producing oilfields already connected to the SheFar-cable. There is, and there will be an ever increasing requirement from the oil companies for telecommunications, which
centre. A New Frontier There are still new frontiers to be discovered in the world – and the Faroe Islands might be just that: a new frontier – an unspoiled treasure. People are becoming aware of that [...] intense, peaceful and authentic are often used when trying to describe the feel of the Faroes – and the fact that everything is close, whether you want it or not. People are fascinated by the contrasts and [...] You’ve got to be creative to do that. But there is more to it than first meets the eye. This misty fairy land hidden out here in the North Atlantic holds many amazing surprises. If you travel just a bit
