Oljuleiting -This is a great result. We?re delighted that the Faroese Partnership?s first well in the Faroes has been succesful and we look forward to following up on this succes with our drilling programme

the first commercial production of hydrocarbons. This will undoubtedly have a major effect on the Faroese economy and society. In this context, it was interesting, at the recent NORA conference in Torshavn [...] than Norway. In population terms it is one tenth of the size, and in GDP terms even smaller. Accordingly, a relatively small scale of activity has had a large relative effect on Newfoundland. In the Faroes [...] has seen initial work in Faroese waters, but already such companies are beginning to look for opportunities in the UK sector and beyond. This is certainly the pattern we have seen in Newfoundland; local

hydrocarbons in the Faroes area were found on 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 [...] five commitment wells to drill under the four six-year licences awarded in the First Faroe Islands Offshore Licensing Round announced in August 2000. However, while we know that one of the three wells drilled [...] (6005/15-1) was drilled this summer in licence area 003, 130km southeast of Faroes to a total depth of 4000m, terminating in Paleocene sediments. Rolf Magne Larsen, who is in charge of the Norwegian company

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 oil was brought [...] choose to make their homes in the Faroe Islands and push up the prices in the same way as happened in Aberdeen forcing them beyond the reach of most of those not involved in the industry which, although [...] July 6, 1988, 167 men died in the accident most in the North Sea industry said could never happen. Red Adair was not amongst them. The famous Texan fire fighter had warned in the 1970s that whatever precautions

taste a flavour of the mood in the islands, look no further than the film Local Hero, a huge hit in Britain when it opened in cinemas across the country in 1983. One scene in particular struck a chord with [...] fallen steadily from 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 [...] decades of 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

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 [...] and collected in accordance with rules that are applicable to all Faroese citizens. In recent years an increasing number of special rules concerning income taxation have been enacted in the Faroe Islands [...] be deducted in Section 4 income. Tax has to be paid in three equal installments on 1 October, 1 November, and 1 December of the following year. B »Derivative Income« This type of income is in short, all

formed in 2000, did its first deal in June of that year buying TotalFinaElf?s 49% interest in the Caister gas field from operator Conoco. A second deal between the same two companies was completed in December [...] very definitely so in this case. Abbot?s move into Iran, like their activities in Libya, which attracted negative comment particularly in Washington now looks less controversial in the light of attempts [...] formed E&P company which is concentrating on buying producing assets in the southern gas basin. In January 2001, Roots acquired a 50% stake in the Audrey gas field from Centrica for an undisclosed sum. The company

inhabitants, mainly in leisure and welfare purposes. Benefits for the community 30 years after first oil was discovered in the Northern North Sea, Shetland is the envy of every local authority in Scotland and [...] have been drilled in the Faroese sector, and none was successful. Also, it has been made clear by the Faroese authorities that it was their intention to land Faroese oil in Faroe in an attempt to gain [...] of by-passing both island groups. Only in October, Sullom Voe Oil Terminal received a major boost, when BP announced in Aberdeen that the company and its partners in the massive Clair oil field ? 75 kilometres

ago I had the privilege to open the first Offshore Faroes conference, and I am honoured to be invited back this year. Last year we were on the brink of a new industry in the Faroese context. Today we have [...] months. If we see hydrocarbon production on the Faroe Shelf in the future, the local industry will also face a new challenge with a marked increase in activity. According to the Faroese hydrocarbon act, all [...] expectations of the local business community. Let me first say that my general impression is that the activities on the whole have been carried out in a satisfactory manner. However I still think that this

the boys in the alley wouldn't leave her alone. Mama did her make-up in a terrible hurry she finally got ready but the boys were gone. Mama don't you worry, night's approachin' there's a hole in heaven where [...] at koma at luttaka í teirra sabbat. "There are witches in the hills calling my name. Saying come join us sister, come kiss the flame. Come dance in the moonbeams, ride the night wind, make love to the darkness [...] cheap is how I feel" vísir, at tey hava talent fyri at skriva góðar tekstir. Eitt brot er : "Half moon in the sky tonight, bright enough to come up with an answer to the question why is it that every time