Nigeria, it is hardly surprising that the North-west European effort is so low key. And, as rigs gradually but inexorably migrate out of the North Sea, the more difficult it is likely to become in terms of [...] bog-related planning row. It is about where to locate the shore-side gas-handling terminal. The authorities rejected the proposed North Mayo plan in May this year. Corrib was to have been brought onstream [...] commercial or is it not? That is the question being asked in the wake of conflicting reports. The 12/2-1z Rockall Basin well drilled last year appeared to encounter a significant oil column. The Department

part of the development, the more money we could keep in the community and create the facilities for the future.? Subsequently, the council?s representatives managed successfully to make their case to the [...] government in London, which resulted in the Zetland County Council Act 1974, a unique piece of UK legislation that gave the islands the control over its waters and led to the present set-up in which the council [...] partnership between the industry and the local authority has secured the islands a steady stream of income, which is used to boost the economy and to finance amenities other local authorities in Britain can only

possible changes to the drilling plan. ?It will take six years to drill and put all these wells in place.? Meanwhile, under the original plan, the Clair pipeline was to be laid next year, but the decision was [...] Energy Minister Brian Wilson gave it the green light. Phase-1 concentrates on the core, Graben, and Horst segments in the southern area of the field, with estimated oil in place of approximately 1.75billion [...] engagement did not start until the end of 1999, once it had been decided what would needed ? a stripped down, to the point approach without North Sea-style ?gold-plating?. The best in class role model selected

offer in the first licensing round. In addition to blocks adjacent to existing licenses the blocks northwards of the area on offer in the first round still appears to be attractive to the industry. The Ha [...] rather to find a solution to exploring the geologically challenging part of the Faroe Shelf. In other words the main challenge is a gradual transfer of activity from the existing licenses in the southeast [...] planning to drill in 2004. Looking at the results from the 3 exploration wells, it may be appropriate to take a glance at the point of departure, when the licenses were awarded in the summer of 2000. The reason

rounds is an important weapon in the explorer?s armoury. The UK will open its 21st licence round next year but it is unlikely to include any acreage near the Faeroes. The 21st round is likely to be a mopping [...] n success has eluded the explorers in the southeast corner of the island?s offshore waters, it is likely that attention will turn to the northeast. The west of Shetlands region is vying for petroleum [...] between the UK and Norway is now better than at any previous point in the history of the North Sea industry. It is particularly important that we should find ways of working together in the median areas around

side of the Atlantic to the North Sea, the story of oil has also been slow to unfold, though the potential of Eastern Canada is said to be considerable. And, in Greenland, there is nothing to show for [...] 170m in Palaeocene sediments. Located in 950m of water, close to the UK/Faroe boundary in the White Zone, the well was drilled to a total depth of 4275m in a deepening operation, after reaching the commitment [...] territory and the Repsol-YPF operated Poseidon gasfield. Of the 14 blocks; four are in the Estremadura/South Peniche area, six in Alentejo/Sagres, and four in the Algarve Basin. Geologically, the acreage lies

this year is well up, and much of that is thanks to oil-related offshore activity.« »There is more emphasis now on these areas, especially with the turmoil in the Middle East. The Shetland and the Faroese [...] lism? Far from it! Wealth is visible in the amount of new houses being built, in the size and the age of cars cruising the highway-like road network, and is expressed in the general upbeat and enterprising [...] , 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 Sullom Voe Oil Terminal manager

also typifies the trend in a way. The company sold off its North Sea interests in 1988 but returned to the province by buying half of Shell?s 4.357% interest in the Elgin/Franklin fields. The number of niche [...] growth. Colin Manderson, the chief executive, hoped to be at the helm of the first Scottish company to go for an IPO (initial public offering) in 2001 but the plans to list on the New York Stock Exchange [...] first contract in the field with more to follow. Abbot Group is a third Scottish-headquartered energy services company which is looking to expand around the world and which is also more likely to acquired than

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 its real [...] place. Also in this case it is only the part of 500,000 DKK or less that is reduced. The taxable income assessed like this is taxed in accordance with the ordinary tax rates. The same applies to limited tax [...] Act and subject to the ordinary tax legislation If the wage earner or the businessman is tax liable subject to both the Hydrocarbon Tax Act and subject to the ordinary tax legislation, the »derivative income«

If so, did you notice that the music sounded »duller« than it would if you had been in the same room as where it was being played? In fact, the reason the music sounded dull is not just because your tastes [...] sources generated at the surface. Unfortunately, most of the prospective areas in the Faroes are covered in basalt, and this acts as a barrier that prevents sounds from penetrating to the deeper formations [...] a profound impact for oil exploration in areas such as the Faroes. This is because modern exploration is heavily reliant on seismic information, which in turn is obtained by measuring echoes from artificial