services required by the East and the West of Shetland oil fields. It is investment today for the ongoing business tomorrow.« Others are more open about their aspirations and hopes. The chief executive of [...] oil-related offshore activity.« »There is more emphasis now on these areas, especially with the turmoil in the Middle East. The Shetland and the Faroese area is becoming more important« Morgan Goodlad, chief executive [...] enough for a terminal in Faroe, then we are hopeful, that it should be viable to connect into Sullom Voe Oil Terminal.« However, he acknowledges that it is very early days yet to speculate on this possibility

60%) as it spreads its footprint to more and more areas of the world. The acquisition of Houston-based Mustang Engineering means that the group?s institutional shareholder base has grown to more than 20% [...] business offering in more arenas around the world. It has also opened up a new area of business, non-oil and gas waste logistics and quickly one its first contract in the field with more to follow. Abbot Group [...] followed a corporate review by Tullow, listed on both the UK and Irish stock markets, which resulted in it repositioning itself as a fully integrated exploration and production (E&P) company with a focus on

Faroese waters. In order to be covered by FAS it is also 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 [...] Planning This brief presentation of the changes in the Faroese income taxation in recent years should make it clear, that they have affected the situation of both wage earners and enterprises. The changes introduced [...] relate to wage earners as it is of fiscal and therefore of financial importance whether they have signed on a vessel under FAS or DIS. In relation to hydrocarbon activities it may have fiscal and with that

decline - and began a remarkable transformation of the islands' economy - when it first arrived in December 1976. Today it is difficult to envisage the excitement of residents - particularly those living [...] money in those days - but the Government took away more than 80 per cent in capital gains tax.« »That didn't leave me very much - but I did invest it extremely carefully.« Danny might not be rich. But [...] done better,«said Councillor Halcro-Johnston. »But I think the deal was fair. It was within what the industry could afford and it has brought huge benefits to Orkney.« Until the terminal opened, the population

However it had become too dependent on oil and when in 1986, with no warning, the price plummeted from $30 to less than $10 in less than a month the city was rocked to it?s granite foundations. It was estimated [...] jobs disappeared along with thousands more onshore. A leaner and meaner oil industry emerged from the slump focused on driving down costs to make the North Sea more globally competitive and with each year [...] pumped ashore gas was flared off and it was expected that the field would last until 2001. Now it is a major gas field and the silver anniversary predictions are that it could last another quarter of a century

from exploring the area more fully. However, Professor Ziolkowski has pointed out that, although basalt is relatively »opaque« to conventional seismic sources, it should be more »transparent« at low frequencies [...] errant teenagers? If so, did you notice that the music sounded »duller« than it would if you had been in the same room as where it was being played? In fact, the reason the music sounded dull is not just because [...] frequencies. Hence it may be possible to obtain reflections from beneath the basalt by using special sources that produce more of this type of energy. Unfortunately, implementing Professor Ziolkowski?s idea

in the UK sector. It was Statoil that drilled the first well and, while it is regarded as a dry hole, traces of hydrocarbons were found. Likewise, BP?s well was declared dry, albeit it too produced evidence [...] could make a real difference to the next year?s campaign by other consortia, including the Agip and Foroya Kolvetni (FK) partnership. This is a particularly important time for FK in that, though it is largely [...] evidence of oil and gas. And then it was third time lucky ... for Amerada Hess. All three wells were drilled in the Judd Basin, which is a proven hydrocarbon province that has so far delivered the UK sector

By Lise Kirkegaard It takes more than a successful exploratory well for a drilling operation on foreign territory to be a success. It also takes integration into and understanding of the local culture [...] of the activities as possible to benefit Faroese society, partly because it is natural to exchange know-how, but also because it is, after all, the Faroe islanders' resources we are using.« Nine Faroe islanders [...] 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 understanding of things

By Lise Kirkegaard It takes more than a successful exploratory well for a drilling operation on foreign territory to be a success. It also takes integration into and understanding of the local culture [...] of the activities as possible to benefit Faroese society, partly because it is natural to exchange know-how, but also because it is, after all, the Faroe islanders' resources we are using.« Nine Faroe islanders [...] 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 understanding of things

social problems, and it may in fact make an important contribution even to the local culture and the tourism industry. Indeed, while it is critical to minimize any negative effects, it is in my opinion just [...] Schrimpton It was a great pleasure to be back in the Faroe Islands recently, and it was very good news to hear, soon after I returned to Newfoundland, of the positive results from the Amerada-Hess well. It is [...] of horizons is very valuable, since it makes these companies and their employees less reliant on the success of the petroleum industry in Newfoundland waters, it still leaves them vulnerable to global