Petroleum has been in two phases: The first phase running from 1998 to 2001, where we got our first licenses outside the Faroe Islands and the second phase from 2001 to the end of last year. At this point in time [...] portfolio spanning from exploration to development, and soon also production A solid capital base Access to capital for further growth, both in terms of equity and senior dept Strong cash flow from own production [...] value (approx. £10 million). The number of shareholders is now approximate­ly 5600 of which 70 % are from the Faroe Islands and 30 % are Scandinavian privat and institutional investors. The Market capitalisation

companies and people working in the Faroes”, says Mr Laksafoss. He is aware of oil companies refraining from working in the Faroes, e.g. activities which could be done here being done abroad instead: -“If the

million. On top of this are duties from the sale of seismic licenses issued to Western Geophysical from 1994-95 gave app. 15 million kroner. The largest amounts however stem from the support of various industrial [...] produced yet, but this situation has not prevented income from large oil revenues. In total the Faroese society has made app. 200 million kroner directly from the oil industry, since oil exploration efforts begun [...] just look at part of these incomes. An overview compiled by Jarðfeingi shows that during the period from 2000 to the awarding of the first exploration licenses and upto 2006, some of the oil revenues had

By linking these two production units with cables and tying into the SheFar-cable, which will run from Scotland to Shetland to the Faroes, BP will be able to send almost unlimited amounts of data ashore [...] already connected to the 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 [...] to Scheihallion and Clair are in the process of being laid. Sosialurin has tried to get a comment from the Føroya Tele CEO, Mr Kristian Davidsen, but he does not at the moment wish to make any comments

detrimental waste can come from a vessel. In practical terms, this means that a badly polluting vessel must pay so much in duties, that it is not competitive, thereby excluding itself from working in a Norwegian [...] to work in Faroe waters, says Mr Rasmussen. Supply Service Leirvik, which operated supply vessels from the Norwegian company Havila for the 2001 exploration round: – Since then we have had the opportunity [...] least. We must at all costs prevent the old poor much polluting vessels where safety is compromised from entering our waters, just because we are afraid to set demands towards the oil companies, says Mr

company. The organization has some 30 highly qualified professionals, a majority of whom have experience from Saga Petroleum ASA, working both the Nor­wegian Continental Shelf and internationally. Offices are [...] exploration and production, both offshore and onshore. All necessary infrastructure will be in place from day one in order to develop the current portfolio and evaluate future opportunities. The organisation

com­pleted and the whole installa­tion has been delivered, and subsequently people are being withdrawn from the area.

the increased activity will attract many visitors to the Faroese national pavilion,” is the message from the organisers. About SamVit - Faroe Islands Enterprise SamVit - Faroe Islands Enter­prise is the

manager of Atlantic Supply Base. They are quite optimistic in their views that oil will be extracted from the Faroese CS. They are preparing themselves for a possible oil industry in the Faroes. Atlantic [...] may wish to come to Faroe Island to drill and, of course, also those who work at a short distance from the Faroese/UK border. If Oil Company works on the Atlantic Frontier, Oil Companies will be able to [...] well satisfied with our service, so I do not think there is any reason to move the supply base away from Runavik, says Eli Lassen. It is very important to be able to offer good conditions when a rig owner

year a sister vessel, which has not yet been named will join. The hull of the Thor Alpha was floated from the Skála shipyard dock on the 21 of July 2007 and is currently being completed. It should be ready