captivated by the beauty of the scenery and the special qualities of the people in the Same way as William Morris, John Buchan and John Betheman and many of their compatriots have been over the years. These [...] stepped off a trawler to pursue fishery negotiations with the British in the 1960?s. Neither was there much recognition of Atli Dam?s status when he was in Britain on a similar errand in the following decade [...] Louis Wilson In the early years of the century the threat was all too visible to the Faroese. Large fleets of British steam-powered trawlers could be seen crowding the fishing grounds right up to a mere three

several years more and involved a costly law suit against Britain in the International Court at the Hague. During that time, Bog Oil could have lost interest in the UK portion of the Atlantic Frontier [...] waning against a background of low oil prices, higt exploration and development costs, and the fact that the area has not been as prilific as the industry had hoped. At last the door is open to the first Faroese [...] is close to the new boundary and started the 214/4-1 well on April 26. Wood Mackenzie says of the quest: »The operator is believed to be targetting a sizeable gas structure to the north of the block, close

on an area of the Faroe-Shetland Channel adjacent to the BP-operated Foinaven and Schiehallion oilfields in the UK sector. It was Statoil that drilled the first well and, while it is regarded as a dry [...] get legislation finalised and onto the statute book, the decades-long boundary dispute with the UK settled, and the first licensing round launched. The last mentioned and, in practical terms, most critical [...] land and comprise coal deposits, organic waxes found in basalt, and inconclusive traces of oil mixed with water in the Lopra-1 experimental well drilled in the early 1980s. Geological mapping of the islands

bring with the retention of the islanders? core values and the very special atmosphere of the islands. The first gas was discovered in the North Sea by BP in their West Sole Field in 1965 and two years [...] companies. The drilling has been a long time coming in Faroese waters but momentum is building in what might become an unstoppable force. The signs which marked the arrival of the industry in Aberdeen and Shetland [...] because of the oil industry and the challenge for the Faroes, if oil is discovered in its waters, will be to capitalise on the opportunity yet retain the unique charm of the islands. Aberdeen and the North-east

hit in Britain when it opened in cinemas across the country in 1983. One scene in particular struck a chord with people here. The Hollywood star Burt Lancaster steps out of a helicopter on to a remote Scottish [...] 30,000 in 1901 to just 17,000 in 1971. »One of the most important benefits of the oil era, and one often overlooked, is the way it restored confidence in the people of Orkney,« he said. »Until the 1970s [...] been lit by a dramatic orange glow for the past 25 years - a sight as familiar to residents as the stars that fill the clear skies above the islands. Islanders treasure the winter spectacle of the aurora borealis

necessary that the ship owner in question is a resident in the Faroe Islands. If the ship owner is a company it has to be registered in the Faroe Islands and its real head office has to be located in the Faroe [...] applying for the Faroes as well. The more special rules, the better it permits the taxpayer to plan his own state of affairs with the resulting difference in fiscal and financial outcomes, and ultimately [...] Register of Ships (FAS) that came into force in the beginning of the 90?ies and the rules of taxation on crew?s wages that came into force in the second half of the 90?ies. As regards taxation on income derived

for and that creates an opportunity for us in the marketplace,« Mr Dingwall says. Dyas UK also typifies the trend in a way. The company sold off its North Sea interests in 1988 but returned to the province [...] around the world and which is also more likely to acquired than be bought over. The record of expansion saw the share price double in a year prior to the post-September 11 volatility in the market. In October [...] work developed in the North Sea with its counterpart from the Gulf of Mexico. It received a boost in this with the award of a second multi-million pound design and development contract for the £650m BP Clair

courting. It was, in fact, the desolate state of the economy of the UK and the central government?s hunger for oil revenues that put Shetland in a comparatively strong negotiating position with the oil industry [...] all, the oil multies wanted something from the island community ? namely a landfall for oil from the huge fields in the East Shetland Basin ? rather than the islanders longing for the influx of a completely [...] bargaining on the side of the oil industry in uncountable formal and informal meetings between the supposedly David and the obvious Goliath created a lot of bitter feelings. However, in retrospective,

over a gross interval of approximately 170m in Palaeocene sediments. Located in 950m of water, close to the UK/Faroe boundary in the White Zone, the well was drilled to a total depth of 4275m in a deepening [...] territory and the Repsol-YPF operated Poseidon gasfield. Of the 14 blocks; four are in the Estremadura/South Peniche area, six in Alentejo/Sagres, and four in the Algarve Basin. Geologically, the acreage [...] money as a member of a partnership lead by Mohave that drilled the Lusitania Basin - Aljubarrota prospect in 2000 and again in 2001. The adventure proved a commercial failure and resulted in Desire backing

not taken up in the previous 20th round and a batch of assets in the gas prone southern North Sea basin. Acreage in the West of Shetlands and east of the Faeroes Islands will be included in a single round [...] round at a later date, said a government oil and gas official. ?We included acreage close to the Faeroes in the 19th licence round. We need to do more environmental work in the area before we can open acreage [...] activity in the islands resulting from the development of a new industry could provide employment opportunities for younger age groups?. In the UK, an increasing cause of friction between the fishing industry