around 40% of the produced electrical power. The great opportunity seams to be in utilizing the power from the sea. The idea is to use the power waves give when they reach the shore, a process the company Sewave [...] polity close to the North Pole into to being a strong, dynamic polity in the middle of the North Atlantic taking the advantage of the new opportunities The task for the Faroes is to bring home the Faroes brainware [...] y. The Faroes not only have the oldest parliament in the world, but the heart of political power is still at the same place. The Faroes has been a very remote society without much contact with the world

licenses the blocks northwards of the area on offer in the first round still appears to be attractive to the industry. The Hatton-Rockall area In the longer term some deep water areas to the southwest [...] article 76 of the United Nations Convention on the Law of the Sea and will eventually be examined by the Commission on the Limits of the Continental Shelf, which has been established under the Convention [...] 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 to the shallower and

more opportunities. The early development of the Company should be based on the activities on the Faroese Continental Shelf. The shareholder base should be strong and 100% Faroese. The first phase was a [...] Hoydal, Chairman of the Board, AP ------ The last year has shown very strong growth in Atlantic Petroleum, AP. This is well reflected in the trust shown by investors and the markets in the AP share. An investor [...] markets and the general public in real time on the AP website/www.petroleum.fo and most elegantly presented in the last Annual and Consolidated Report and Accounts for the year 2006. Development The development

dependent on the daily fluctuation of the oil price and the Faroes Islands must carefully balance the huge opportunity which the industry can bring with the retention of the islanders? core values and the very [...] 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 [...] of the islands. The first gas was discovered in the North Sea by BP in their West Sole Field in 1965 and two years later Amoco found the first oil in the Arbroath field. It was 10 years before the first

on the back of the UK Schiehallion and Foinaven discoveries, and following the boundary agreement between the UK and the Faroese in 1999 the industry embarked on exploring the Faroese shelf with no less [...] active in the exploration for oil and gas on the Faroese Shelf. Sosialurin, founded in 1927, is the biggest newspaper in the Faroe Islands. Sosialurin has focused on the Oil and Gas industry for the last 30 [...] uncover. In the meantime the Faroese can take some comfort in the fact that the UK Rosebank discovery operated by Chevron seems to be a success. This could mean a lot to the prospectivity on the Faroese side

voiced as regards to the impact the advent of the oil industry would have on the islands? pristine environment, the traditional economy, and the specific Shetland way of life, namely the islands? unique identity [...] payments to the SIC in the light of declining North Sea oil expectations. However, due to improve oil recovery techniques and the development of oil fields to the West of Shetland, the presence of the terminal [...] ure, which is being developed in the North and West of Shetland, is located to the prospective oil province on the other site of the border between the UK and Faroe. Former Sullom Voe Oil Terminal manager

Two support vessels The latest accomplishment of Faroeyard in the offshore industry is the delivery of two support vessels for the shipping company Thor in Hósvik. The first, the Thor Alpha was delivered [...] acquired by the shipbuilding yard in Tórshavn, and in 1997, Skála Skipasmiðja joined the group. All the pieces slowly begun to come together, and in 2004 the name: Faroeyard was adopted. The Sales and Marketing [...] explains that the company is growing ever larger on the international market and today the company employs app. 350 people, whereof 50 are abroad. The daughter company PAM Offshore Service, has from the offset

small group have the opportunity to hear them in the Nordic House. Personally, I »met« Mr Clinton on the 2nd of November 1999, at a Remembrance Day in Oslo – the fourth anniversary for the killing of Mr Yitzhak [...] testosterone on the power pinnacles of the world will improve the opportunity to strike a better balance in decreasing tensions between the various religious fractions and thereby lower the terror threat. Mrs Angela [...] countries have realised that the right man for the job is quite often a woman! Dear Mr Clinton, the country you are visiting today will most likely become the next new country on the world map. Without doubt leading

round in the Faroe Islands cannot be initiated at the discretion of the Minister. It is a special feature of the Faroese licensing regime that Parliament has to approve the area on offer as well as the general [...] and conditions of the licenses. Therefore, the time span from the moment work commences on a licensing round and to the point when the round is launched, is likely to be longer in the Faroes than in ne [...] Towards a second licensing round The next Faroese licensing round certainly is not going to be dependent upon the outcome of the parcelling out of the Hatton-Rockall Plateau. It is always an issue of timing

member of The Faroes Partnership, is participating in the drilling of the third exploratory well on Faroese territory. »It is easier to work together with others if all the parties involved have the same [...] develop human resources both on the Faroe Islands and at DONG. »One of the main aims of our activities is to support the development of competence within the oil industry on the Faroe Islands,« says Jan Terje [...] Knowledge concerning the Faroese subsoil DONG has had activities on the Faroe Islands since 1995, when the company, in cooperation with the Faroese authorities, was in charge of the preparation and drilling