arrived, the promises have been kept and great care has been taken this time to try to avoid any more boom to burst scenarios. Companies have expanded their horizons and diversified so their fortunes are far [...] price for Brent crude slumped to under $13. Developments were once again put on hold and the century ended with a year in which the price was down to under $10 a barrel at the beginning at up to more than [...] handled. The responsibility for safety was taken away from the Department of Energy and handed to the Health and Safety Executive. In tandem the onus was placed on operators to develop individual safety

so if we are to continue to work in the Faroes, it will be necessary to resolve the “basalt problem”. The great challenge with basalt can be divided into two separate parts. The first is to “see” properly [...] not walking in small shoes when it comes to oil exploration in the Faroes. Even if the company has been the operating company for two dry wells, they are prepared to spend D.kr. 300 million on seismic surveys [...] data and the second is to drill through the basalt. As the operating company in several Faroe licenses, we have been forced to accept these challenges very seriously, if are to have any hope of making

oil companies to work here: -“The oil industry has for a long time been requesting clear-cut rules on tax issues. Therefore I estimate this agreement can only be an advantage for British companies and [...] situation the international oil companies have been facing, if they intended to operate in the Faroes. The taxation system has been quite unclear and for many oil companies based in London, this unclear [...] of oil companies electing to allocate activities abroad, which could have been performed here, directly due to the unclear tax situation”, says the minister, and he adds: -“Foreign oil companies have made

expected to float on the London Stock Exchange early next year in a bid to raise £10-20million to finance its participation in the great, slow-pace Faroese oil race. ?We?re ready to go ? waiting for the right [...] the Faroese had been awaiting for some time ... the decision by Denmark to surrender all rights to ?minerals in the subsoil? to Faroese control, and therefore the right to determine the course of the possible [...] so difficult It is common for traces of hydrocarbons to be found when drilling exploration wells, but that does not mean conditions are anywhere near right for oil or gas to accumulate, hence the note

in relation to the high oil price, something most oil companies are happy about. This is the main reason for the high level of offshore activity. Over the coming months Faroe is scheduled to drill at least [...] Petroleum has a lot to offer as a license partner. After only two years on the Norwegian Continental shelf the company has already managed to become a respected player, with one of the best exploration teams [...] cash flow in order to have cash for upcoming exploration. –We have built a portfolio from day one, and have had great success in entering into licences, says Helge Hammer. In addition to winning the licences

boundless passion for life, she enchanted millions of fans around the world and inspired the stars of tomorrow. Today we say goodbye to a dear friend who leaves us all her greatest work: her music. All our [...] latið hópin av sangum út, sum tey flestu kenna og duga - eitt nú 'What's Love Got to Do with It', 'Proud Mary', 'The Best' og 'Private Dancer'. Á Instagram-síðuni hjá Tinu Turner stendur soleiðis at lesa [...] our heartfelt compassion goes out to her family. Tina, we will miss you dearly. ##med2## Trý av kendastu løgum hennara: ##med3## ##med4## ##med5##

– We must not afraid to impose demands upon the oil companies, which are active and intend to work in Faroe waters, says Mr Rasmussen. Supply Service Leirvik, which operated supply vessels from the Norwegian [...] case we ought to impose very stringent demands regarding what equipment is permitted into Faroe waters to operate. – We ought to do as the Norwegian do and set demands towards the oil companies so they are [...] afraid to set demands towards the oil companies, says Mr Rasmussen. He says that in the Faroes we have strived to meet international demands. In Norway however, they impose their own demands for vessels

opportunity for me to meet Oil Companies that may wish to come to Faroe Island to drill and, of course, also those who work at a short distance from the Faroese/UK border. If Oil Company works on the Atlantic [...] important to be able to offer good conditions when a rig owner sends a rig for repair in a short/long period of time. The Oil Companies want sheltered water, and there is no doubt that Skalafjord is best suited [...] quality to extract, says Eli, who does not think that the oil should be extracted and taken to the Faroes. It does not make sense to transport the oil to the Faroes and then export it directly to (main land)

comes to the offering of services, trade and industrial activities to an offshore industry. They operate the only oil industry supply base in the country and are able to offer a complete service to the large [...] ensures their services conform to an international standard. The system will be updated and developed according to requirements. The intention is also to use this in a plan to present the company as an offshore [...] delivery of chemicals. They now intend to expand their activities so oil companies have a one-point contact call number for all their necessities. –“We intend to present ourselves as a wholesale subcontractor