reveals how close the infrastructure, 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 [...] 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 [...] a number of closer business links between Shetland and Faroe. These include mainly transport improvements, but there is no reason why this should not include the transportation of oil and gas as well.

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 active [...] convergence of UK and continental European gas prices helped a revival of corporate interest in the UK gas market. This wave of new interest in an intensity not seen since the 1970s and early Eighties is [...] general trading houses, is another recent entrant to the market by acquiring a package of non-operated assets from Veba Oil and Gas. Bruce Dingwall and his management team colleagues at Aberdeen-based Venture

of the community as a whole. They have funded many economic and social projects and continue to do so. A new cheese factory is about to open and work will soon begin on a modern new library in the Orkney [...] wages paid to staff and contractors over the years, the service industries that benefit from oil-related work and the dues Orkney?s Harbours Department charges the tankers that take oil and gas away from Flotta [...] confidence encouraged people to start businesses and make a success of all sorts of ventures - everything from food processing and crafts to jewellery manufacture and the imaginative way we have developed Orkney's

industries such as construction, post and telecoms, water, food and drink manufacturers and more than four times safer than mining and safer than recreational and sporting activities. The industry continued [...] persuading operators and contractors to share risk and reward and in so doing achieve an initial 30% saving on capital projects. Alliancing and partnering became the buzz words and CRINE proved a success [...] of the Oil and Gas Industry Task Force in 1998 which was part funded by the Department of Trade and Industry and marked the beginning of a closer working relationship between the government and the industry

multiply that success several times over during the next two to three years, convert the discoveries into commercial projects and guarantee the islands a place among the world?s oil and gas nations. Quite how [...] found. Likewise, BP?s well was declared dry, albeit it too produced 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 [...] the Agip and Foroya Kolvetni (FK) partnership. This is a particularly important time for FK in that, though it is largely owned by Faroese, the company is expected to float on the London Stock Exchange

was clearly not so for the UK with its much larger and more diverse economy and wider international interests. Thorshavn had to wait and wait?and wait?and watch BP for one notch up a string of successes west [...] 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 oil and gas licensing round to be launched and for [...] for reaching dials where the politics are far more complex and where open conflict may exist. I am, of course referring to the Yugoslavia mess and, nearer to home, Northern Ireland. On the other hand, what