n potential in the Faroes. In 2006 Statoil and its partners did drill the Brugdan prospect in the Faroes (well 6104/21-1); an analogous structure to Rosebank. The well was abandoned due to bottom­hole [...] drilled into the Faroes offshore area, four in a confined area close to the UK producing Foinaven-Schiehallion Fields, the exploration companies still need to investi­gate, research and understand the Faroes [...] The question is being asked 'why is Statoil remaining in the Faroes for hydrocarbon exploration after drilling two dry wells?' Statoil answers this on several fronts. First it is a 30% partner in the exciting

stems from the first bidding round in 2000 – the so-called “Brugdu” area, where we drilled a well in 2006. The other four licenses were awarded to us in the second round in 2005. We have so to speak complied [...] activities in the Faroes? -“The Brugdan drilling was the very first so-called basalt drilling in the Faroes. Approximately 90 % of the Faroe area is covered by basalt, so if we are to continue to work in the [...] active oil company in Faroe territory. StatoilHydro has been the pioneer in several areas in the Faroes and was the first operating company to drill in the Faroes. This was the “Longan” prospect drilling

offer in the first licensing round. In addition to blocks adjacent to existing licenses the blocks northwards of the area on offer in the first round still appears to be attractive to the industry. The Ha [...] rather to find a solution to exploring the geologically challenging part of the Faroe Shelf. In other words the main challenge is a gradual transfer of activity from the existing licenses in the southeast [...] planning to drill in 2004. Looking at the results from the 3 exploration wells, it may be appropriate to take a glance at the point of departure, when the licenses were awarded in the summer of 2000. The reason

gateway to more than forty percent of the people in the Faroes. Oil industry activities The objective for the participation of the Port of Tórshavn and their former participation at ONS is largely to support [...] large harbour areas in the villages of Kollafjord and Sund. Central gateway to the Faroes Apart from Tórshavn being the geographical centre of the Faroes, with over forty percent of the population residing [...] quayside areas, where it is possible to unload and reload equipment, containers and other material associated with an oil industry. Adding to this, a large 40.000m2 area is currently under development in the

six of the islands whith over 80 % of the population. More­over, the IT penetration is near 100 %. We are now about to undertake significant investments in the Vagar airport both with the aim to modernise [...] re­presentations abroad – where the fourth one opened just last weekend in Reykjavík, the capital of Iceland. We are approaching the wider world, not least the EU, in many ways to engage in negotiations and deals [...] tremendously intriguing to think about oil exploration in this area, also known as the Atlantic Margin, as an activity quite similar to searching for the famous needle in the haystack. And – mind you – here we

between the Faroes and the UK. A dual tax agreement has now finally been agreed between the two countries, and this will probably increase the interest to work and operate in the Faroes The issue is very [...] there is nothing as unclear as taxation systems, and when considerations have to be taken regarding the tax systems in two countries, the chain has simply come off the bike. This is the situation the int [...] due to the unclear tax situation”, says the minister, and he adds: -“Foreign oil companies have made it known that their interest in having oil activities based in the Faroes is very much linked to exactly

content and safe. The crime rate here is among the lowest in the world, the average life expectancy is among the highest in the world, and the birth rate (2.6 children) is the highest in all of Europe. If [...] consumption is generated by rainwater. The Best Fish Products in the World The waters around the Faroe Islands are said to be the cleanest in the world. The perfect mix of the warm Gulf Stream from the south [...] experience in a radio programme in this way: »It’s a cosmic experience. The Faroe Islands is a country which is – and is not. It is in constant flux. It keeps disappearing: One moment it’s lost in the fog, and

should receive some years to adapt. – In the Faroes the oil industry is a new industry and therefore it is perfectly in order to impose duties on vessels from day one. He is also of the opinion, that we could [...] afraid On the other hand, Mr Rasmus­sen thinks that everything is entwined through the terms and conditions we impose upon the oil companies, and he is of the opinion that the Faroes must not be shy in this [...] industry, but at the end of the day it is the dollar everything revolves around. In any case we ought to impose very stringent demands regarding what equipment is permitted into Faroe waters to operate. – We

derrick can prepare for the next drilling operation. This reduces the halts in the drilling operations and is expected to increase the drilling efficiency compared to conventional drilling rigs. West Navion [...] delivery in Feburary 2000 and has experience from some of the most sensitive and harsh environment areas in the world. The vessel has worked in a range of water depths from approximately 300 to 1900 meters [...] operations without the use of anchors. Dynamic positioning is especially favourable on fields with an extensive pipeline system on the seabed. In addition, West Navion is fully equipped to perform subsea field

Tórshavn and the villages belonging to the municipality. We are currently expanding at Oyrareingir by Kollafjørður in the North, and right across the same fjord the longest landing quay in the country was [...] As one of the smallest capitals in the world, it is a great honor for us to receive a former president of the United States of America, accompanied by one of the most important UN officials in history. [...] inhabitants low, Tórshavn is a modern city offering all the facilities any contemporary metropolis might boast. Tórshavn is the center of the Faroe Islands and this is where the first settlers convened a