the Faroese economy. This will initially occur through an expansion of oil activity itself, with more Faroese companies following the lead of Atlantic Petroleum, Atlantic Airways and others. This has [...] that has seen Newfoundland companies, learning from their petroleum industry experience, becoming more competitive in other industries. Engineering, information technology, environmental, publishing, corporate [...] sustained in the long term if such social spending is accompanied by the development of a broader and more resilient economic base, such as we are seeing in Newfoundland. To my mind, this is the main challenge

By Lise Kirkegaard It takes more than a successful exploratory well for a drilling operation on foreign territory to be a success. It also takes integration into and understanding of the local culture

By Lise Kirkegaard It takes more than a successful exploratory well for a drilling operation on foreign territory to be a success. It also takes integration into and understanding of the local culture

Challenging tasks lie ahead for all license holders on the Faroe Shelf ...? What the Marjun find achieved more than anything else was to remove all doubt about the existence of a potentially viable petroleum system

from exploring the area more fully. However, Professor Ziolkowski has pointed out that, although basalt is relatively »opaque« to conventional seismic sources, it should be more »transparent« at low frequencies [...] instruments that normally carry the beat (so-called »low frequencies«), are able to pass through walls more easily than the higher pitched notes (»high frequencies«) that usually carry the tune. As a result [...] in Scotland has recently suggested that the fact that low frequency sound can penetrate barriers more easily than high frequencies could have a profound impact for oil exploration in areas such as the

jobs disappeared along with thousands more onshore. A leaner and meaner oil industry emerged from the slump focused on driving down costs to make the North Sea more globally competitive and with each year [...] not expectation of huge fields like Brent and Forties being discovered but advances means that more and more oil is being extracted from those reservoirs discovered in the 1970s. Brent, for exxample, has [...] has arrived, the promises have been kept and great care has been taken this time to try to avoid any more boom to burst scenarios. Companies have expanded their horizons and diversified so their fortunes

83,000 (pounds) for 57 acres - a great deal of money in those days - but the Government took away more than 80 per cent in capital gains tax.« »That didn't leave me very much - but I did invest it extremely [...] built to handle oil from the number of North Sea fields. After processing at the plant, oil and gasses more valuable than those that light the night sky are shipped by tanker to destinations throughout Britain [...] which had seen the Orkney population decline over the first 70 years of the 20th century.« To date, more than 2 billion barrels of crude oil have been processed at the terminal, along with almost 49 million

The objective of the special rules for taxation on crew?s wages is that the crew?s wages are taxed more favourable than wages earned on shore. The reasons for implementing these special rules are in both [...] 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 the resulting

spreads its footprint to more and more areas of the world. The acquisition of Houston-based Mustang Engineering means that the group?s institutional shareholder base has grown to more than 20%. This prompted [...] business offering in more arenas around the world. It has also opened up a new area of business, non-oil and gas waste logistics and quickly one its first contract in the field with more to follow. Abbot Group [...] in the North Sea. Three companies stand out as continuing to wage expansionary campaigns and being more likely to conduct take-overs abroad rather than themselves facing the prospect of being bought pa

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 area is becoming more important« Morgan Goodlad, chief executive [...] West of Shetland oil fields. It is investment today for the ongoing business tomorrow.« Others are more open about their aspirations and hopes. The chief executive of the Lerwick Port Authority, Allan Wishart [...] onwards. This not only will top up the terminal?s daily throughput by another 60,000 barrels, but ? more importantly ? will see the construction of a pipeline between Sullom Voe and the Clair field capable