southern area of the field, with estimated oil in place of approximately 1.75billion barrels of which 287million might be recoverable over a 24-year period. Depending on how Phase-1 works out, further development [...] possible, with a recoverables target of 400mmb, though there is informal talk of more than 500mmb. Clair development is based on a single large, steel jacket platform located in 165m of water, with output [...] next year, but the decision was made to install it summer 2003, in case 2004 turns out to be a bad weather year west of Shetland. Platform fabrication is in the hands of Aker Kværner (jacket) and Amec

northwest of Shetland - had reached agreement and intended to go ahead with Phase 1 of the field?s development, which will see the recovery of up to the first 250 million barrels of an overall resource of ap [...] originally envisaged. It is the first piece of fixed infrastructure going out west. There is a lot of exploration going on to the West of Shetland and to the East of Faroe, and therefore we regard this as very [...] He sees a good chance that some of the oil may come Shetland?s way, particularly if a »critical mass of discoveries« can not been made to justify the construction of a similar oil terminal in Faroe. »If

Heralvur Joensen were of necessity more technical. These together with the film gave everyone an appreciation of the mechanics of Oil exploration and exactly what progress has been made in Faroese waters. [...] impression of people collectively celebrating their identity and culture right in the middle of the great World City of London. And there was a quiet pride in seeing that there is now a new generation of young [...] Minister set the tone for the evening with a fascinating wide-ranging speech which included elements of history, philosophy, poetry as well as the spiritual. Delivered with his customary charm it had the audience

primarily concerned with taxation on income derived from shipping and taxation on income derived from hydrocarbon activities. As regards income derived from shipping, reference is made to the rules applying [...] this liability. Income derived from exploration and exploitation of hydrocarbons is divided into two groups. One group consists of income derived directly from exploitation of resources (Section 4 income) [...] Faroese International 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

»Orkney learnt a lot of lessons from the Shetland experience,« he said. »It meant that we got many of the benefits of oil developments without many of the less acceptable aspects.« »One of the big advantages [...] negotiations with the original owners of the terminal, special arrangements were drawn up to ensure Orkney benefited from becoming a major oil port. Essentially, a range of payments is made to the islands [...] 70 years of the 20th century.« To date, more than 2 billion barrels of crude oil have been processed at the terminal, along with almost 49 million barrels of propane gas. In addition, oil from the Foinaven

dependent upon the outcome of the parcelling out of the Hatton-Rockall Plateau. It is always an issue of timing when deciding upon the launch of a licensing round. With large parts of the Faroe Shelf being [...] any licensing round a careful assessment of the maturity of a region with respect to exploration has to be performed in order to obtain an informed and realistic opinion on possible work commitments in future [...] the Minister of Petroleum has told the administration to start planning for a second licensing round. Acting upon this message it is likely that the Ministry of Petroleum will consult with the industry

west of Shetland reserves now fall a long way short of early estimates. In its 1990 Brown Book, the UK Department of Trade and Industry gave high-end reserves estimates of 730million tonnes of oil and [...] sector of the Atlantic Frontier, especially when set against UK west of Shetland, where less than a handful of fields are producing or under development (namely Foinaven and Schiehallion/Loyal, with Clair [...] discovery on the Bon Maritime permit (Bay of Biscay). But Elf ditched it because of poor reservoir quality, unacceptable oil prices and high cost of extracting oil from such a remote location. But hope springs

gradually but inexorably migrate out of the North Sea, the more difficult it is likely to become in terms of securing drilling tonnage suitable to successfully drill west of the Norway, Scotland/Shetland [...] to Mauritania for an excellent example of how ASX rules are working in favour of the wider interest. The Woodside-led consortium that has in quick succession made the Chinguetti, Banda and Tiof oil discoveries [...] . No such problem with the Faroese. At least we are clear about which of the wells to date have essentially failed ? all but the Marjan probe drilled by Amerada Hess. The failure of the only well drilled

discharge of materials into the environment. West Navion belongs to the new generation of drilling units developed in 1996/97 with focus on a broader range of use, increased independence of frequent supply [...] Navion is one of the newest and most advanced drilling unit of its kind. The drilship complies with the strictest regulations concerning the natural environment and extensive emphasis has been made on reducing [...] transfer speed of 13 knots, which is approximately twice the speed of conventional drilling rigs. The drillship is equipped with satellite controlled dynamic positioning system (DP). Signals from satellites

behavior and way of thinking was completely disparate from my own. It is this diversity which has been my greatest teacher: By living, working, and laughing with humans that are different from me, I have learned [...] beautiful metropolitan, just a highway, a couple of fast-food restaurants, and miles upon miles of fields: I had landed in Hicks­ville, I just wasn’t aware of it. On the way to school, we stopped at a Wal-Mart [...] many, I did not have the sweet feeling of adventure I had expected. However, I was happy to be done traveling for now. In the car on the way to the school, I looked out the windows. Nothing was as I had envisioned