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 that invested 10 thousand DKK in the first two share [...] been five share offerings, and the current share capital is DKK 112 million in nominal value (approx. £10 million). The number of shareholders is now approximately 5600 of which 70 % are from the Faroe [...] capitalisation has been above 1.2 billion DKK in the last months The Company is still strongly rooted in the Faroe Islands. This has been an overarching principle in the Company’s strategy and it has been shown
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 years and is therefore the leading distributor of [...] operating company, was a dry hole. The William Prospect with BP as operator is set to spod later this year. It will be interesting to see what the William well might uncover. In the meantime the Faroese can take [...] that an infrastructure will be located close to Faroese waters which again could lower the economic threshold for potential Faroese discoveries if they are made nearby. Oil and gas exploration is a long
of that work is not calculated as an income for the Faroe society. It is all a question of definition”, Mr Joensen points out. He stresses that the overview is only intended to highlight what incomes the [...] so it is impossible to see and record them. Neither is there direct or indirect incomes from the Sindri fund, which is a fund established by oil companies in the year 2000, and which objective is to support [...] oil. This is absolutely clear if you look at the income made by the Faroe society, linked to oil exploration in one way or another. Or more correctly, if we just look at part of these incomes. An overview
least abroad. It is no big secret however, that both patience and professionalism is required if a contract is to be established with a large oil company. The beau racy is immense and it is all important [...] SheFar-cable. There is, and there will be an ever increasing requirement from the oil companies for telecommunications, which is not being met today. For Faroe telecommunication companies an oil industry west [...] area, and therefore it is sensible to cooperate with a telecommunications company capable of delivering such a service. This is where Føroya Tele comes into the picture, as it is capable of delivering
companies in case they scare them off: – I think there is no reason for such an attitude, because as long as the oil price is where it currently is, the Faroes will definitely be interesting. The oil companies [...] that it is not competitive, thereby excluding itself from working in a Norwegian oil industry. He says that in Norway this duty is applicable to all vessels, also fishing vessels, but he is doubtful if [...] years to adapt. – In the Faroes the oil industry is a new industry and therefore it is perfectly in order to impose duties on vessels from day one. He is also of the opinion, that we could demand all vessels
The question is being asked 'why is Statoil remaining in the Faroes for hydrocarbon exploration after drilling two dry wells?' Statoil answers this on several fronts. First it is a 30% partner in the exciting [...] locations. However in the Faroes offshore, an unexplored frontier area, a large area remains more speculative between these data points. To gain better insight to what these areas may contain, Statoil, Jardfeingi [...] of 6,000 barrels a day. In addition and importantly, the structure of the Rosebank-Lochnagar field is similar to large structures mapped by Statoil and its partners in the Faroes offshore. These constitute
vessel, which is expected to be ready in mid-September next year is expected to cost app. DKK 80 million. Mr Gunnbjørn Joensen says the Thor Alpha will set course directly for Mexico when it is ready. The [...] The company is providing offshore services all over the world, so there is nothing strange in this situation. To Aberdeen to meet friends Asked what errands they have at Offshore Europe 2007, Mr Joensen says [...] 2007 and is currently being completed. It should be ready to begin operations by mid-November, after it has been to the Danish town of Hirtshals to sandblasted and painted. The Thor Alpha is 55 metres
experience. The Faroe Islands is a country which is – and is not. It is in constant flux. It keeps disappearing: One moment it’s lost in the fog, and suddenly – there it is again in all its magnificent [...] develop strong networks is becoming more important. And still it is crucial for us to hold on strongly to our unique identity if we want to stay competitive. The burning question is: What role can a little nation [...] life’s vulnerability – and that is really inspirational. That is probably why creative people thrive here and why such magnificent art on an absolute top international level is created here. Actually, I was
flesh and blood what peace and tranquillity really means. Peace and tranquillity is probably not the main reason why people want to come here. Most people seem more concerned by what there is to do while they’re [...] to start thinking of the Internet as an integral part of their marketing strategy and show the world what they have to offer. At the moment, a wealth of information is out there in the middle of nowhere [...] already is, a priority for Faroese tourism in the future. All in all – we can expect a great increase in the number of tourists over the next few years, so we must prepare. That is exactly what we’re trying
the Faroes. That you have taken the time to come to our tiny far-flung country is a sign that what often seems impossible is possible, if just the will, ability and effort are present. You will know this [...] if she is successful in her endeavour to become the first female President of the United States or not, she has already become an inspiration and role model for women all over the world. It is women like [...] States. However, behind a great man very often stands a great woman it is said and in your case there can be no doubt that this is a fact. We hereby wish you to convey our greetings to your wife, Hillary
