the preparation and drilling of an exploratory well on the island of Suderø, financed by a number of international oil companies. The purpose of the well was to provide information about the Faroese subsoil [...] »Normally, the oil companies drill their exploratory wells themselves. The drilling campaign has resulted in big savings in connection with the various wells. The mobilisation costs connected with the drilling [...] drill one or two wells.« Another reason for the savings is that the drilling team has been able to optimise the drilling work as the programme has proceeded »When one drills so many wells, one acquires a
the preparation and drilling of an exploratory well on the island of Suderø, financed by a number of international oil companies. The purpose of the well was to provide information about the Faroese subsoil [...] »Normally, the oil companies drill their exploratory wells themselves. The drilling campaign has resulted in big savings in connection with the various wells. The mobilisation costs connected with the drilling [...] drill one or two wells.« Another reason for the savings is that the drilling team has been able to optimise the drilling work as the programme has proceeded »When one drills so many wells, one acquires a
pushed the lucky Marjun Prospect wildcat well to a much greater depth than was originally planned. With one clear discovery notched up out of three exploration wells drilled, the success rate achieved in [...] the three-well programme just completed. The conclusions drawn will be critical to the intended 2002 schedule, not least because they will significantly influence where the next tranche of wells are drilled [...] commitment wells to drill under the four six-year licences awarded in the First Faroe Islands Offshore Licensing Round announced in August 2000. However, while we know that one of the three wells drilled
the very large companies could afford to carry it out. Development continued and a record number of wells were started in 1996 but towards the end of the decade recession hit again and in 1998 the average [...] been a long time coming to the Faroes, not least because of boundary disputes, and that time has been well used in preparation. Hopefully that preparation will maximise the benefits to the 45,000 islands and
aspects.« »One of the big advantages here was the creation of the terminal on Flotta, a small island well away from the main centres of population. That meant that the massive disruption during the construction [...] almost been done,« he said. »There are now so many businesses in Orkney that are growing and doing well. They provide us with the basis for future prosperity.« Traditionally, Flotta itself has put huge [...] prosperous era in the islands' history. »At the height of activity at the terminal, it was providing well paid jobs,« added Councillor Halcro-Johnston. »And that was exactly what was needed in a community
hydrocarbon activities alike it my be of significant importance in relation to the fiscal position as well as in relation to the tax payers financial position, how the business enterprises/activities have [...] subject to the Hydrocarbon Tax Act only or to the ordinary tax legislation applying for the Faroes as well. The more special rules, the better it permits the taxpayer to plan his own state of affairs with
kunnu verða nevnd her: »ókey« frá »okay«, »beibei« frá »bye-bye«, »halló« frá »hello«, »vell« frá »well«, »lorri« frá »lorry«, »dreivari« frá »driver«, »distroyari« ella »oyðari« frá »destroyer«, »radari«
on of 28 onshore wells at the Dorood Field on Kharg Island. That followed the winning of a similar contract, announced in March, worth £54m to supervise the drilling of offshore wells for NIOC, the National
the islands? massive oil terminal at Sullom Voe will be able to handle oil extracted from Faroese wells. A simple look at a map of the North East Atlantic reveals how close the infrastructure, which is [...] activity. »The harbour has recently been very, very busy with oil related ships. Our income this year is well up, and much of that is thanks to oil-related offshore activity.« »There is more emphasis now on these [...] improvements, but there is no reason why this should not include the transportation of oil and gas as well. He sees a good chance that some of the oil may come Shetland?s way, particularly if a »critical mass
year we were on the brink of a new industry in the Faroese context. Today we have three exploration wells behind us and a lot of experience which I am looking forward to hearing more of over the next days [...] commits the local business community which has to be on its feet marketing its products and services as well as meeting the demands of the oil industry. I know there have been difficulties in this cooperation
