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 of Shetland [...] became a natural part of the dialogue. It is quite clear if we look ahead and at the development of an oil production west of Shetland in general, that it may become a reality to link future oil producing [...] Shetland and close to the Faroe border could be worth its weight in gold. Change routines So then, what can oil companies save by cooperating with a Faroe telecommunications company? According to sources
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 various posts [...] oil exploration in one way or another. Or more correctly, if we 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
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 some comfort in the fact that [...] success. This could mean a lot to the prospectivity on the Faroese side and it will in any case mean that an infrastructure will be located close to Faroese waters which again could lower the economic threshold
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 offers in 1998 and 1999 would be able [...] 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 to be a strong commercial point [...] growth, both in terms of equity and senior dept Strong cash flow from own production the coming years What do we then want to achieve the coming years? Because the Company will now have its own cash flow it
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