succesful micro state. The choice of sovereignty is, of course, not one for all very small societies. But the experience of sovereignty for so many micro-states in the years of independence should inspire confidence [...] 99: “In contrast to Iceland the story of Newfoundland has been one of tragic disappointment, a cronic case of psychological and material dependence. Icelanders to the last explain their survival, indeed [...] dangerous waters. Iceland is the story which, perhaps more than any other, confounds the calculations of chronic disadvantage in very small and remote states. While not alone, it is the quintessential succesful

--------- During the debate of the PM’s speech, which he held to the nation on the national holiday the 29th of July, the Minister for hydrocarbon affairs, Mr Bjarni Djurholm had the following comments [...] but based upon the activity level, which has been agreed for the Faroe area and the drillings on the UK side of the border, we estimate there is a growing interest for the area west of Shetland and thereby [...] Iceland to determine the feasibility of laying a power cable from Iceland to the Faroes, and then there is the project looking at the possibility of converting wave-power into a source of electricity. Later

Hoydal, Chairman of the Board, AP ------ The last year has shown very strong growth in Atlantic Petroleum, AP. This is well reflected in the trust shown by investors and the markets in the AP share. An investor [...] last year. At this point in time the Company is prepared and ready to go into the third phase of its development. Phase One The idea behind the establish­ment of Atlantic Petroleum was to use the upcoming [...] Furthermore, the company would get access to the industry and to more opportunities. The early development of the Company should be based on the activities on the Faroese Continental Shelf. The shareholder

most of the ONS and Offshore Europe exhibitions in Stavanger and Aberdeen over the last 15 – 20 years. The Atlantic Margin has changed much in recent years. There was considerable optimism for the area [...] area on the back of the UK Schiehallion and Foinaven discoveries, and following the boundary agreement between the UK and the Faroese in 1999 the industry embarked on exploring the Faroese shelf with no less [...] in the exploration for oil and gas on the Faroese Shelf. Sosialurin, founded in 1927, is the biggest newspaper in the Faroe Islands. Sosialurin has focused on the Oil and Gas industry for the last 30 years

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 [...] how large a part of the money flows through the Faroe economy. -“Sindri is of a special nature, which possibly can be compared to the work done by the oil companies in connection with the Faroe area. Expenditure [...] when drilling started upon the first exploration well in south western part of the Faroe plateau. Drillings continued until 2002, when the last drilling from the first round was completed. Oil revenues however

stringent demands regarding safety and the protection of the environment and they demand knowledge of Nordic languages. It is possible to have the suspicion that some of the demands imposed are there to protect [...] not be afraid On the other hand, Mr Rasmus­sen thinks that everything is entwined through the terms and conditions we impose upon the oil companies, and he is of the opinion that the Faroes must not be [...] if it would be correct of the Faroes to set such demands for all vessels, as he thinks that the current existing industry should receive some years to adapt. – In the Faroes the oil industry is a new industry

licences in the upcoming Norwegian licensing rounds. Pre-qualification as an operator is anticipated by the end of the year. The company will be headed by Terje Hagevang, now Managing Director of Sagex and [...] working Norway, the North Sea and internationally. The company has licences in the UK, Denmark and Faroes, a number of projects in progress globally, access to technology and the expertise of around 30 employees [...] presently with focus on Norway, North-Africa, Middle East and Latin America. The shareholders of the company will be part of the staff of Sagex Petroleum ASA, thus securing a highly incentivised organisation

sell the oil to them and take the proceeds home again. If it later on appears that, there is oil to the North and the West of the Faroes we have another challenge, which we must solve then. All the equipment [...] is convinced that the Oil Companies will find oil and gas on the Faroes CS. We are making preparations for the BP exploration “William” well later this year and the challenges ahead of us, says Eli. I would [...] Transport the oil to Shetland I am of the opinion that oil and gas will be found on the Faroese CS within three to five years, and this is because Chevron has found good and light oil only 8 km from the Faroese/UK

setting. The New York Times published an article about The Faroe Islands by the journalist Stephen Metcalf on the 25th of March this year. The headline went: “Into the Mystical Unreal Reality of the Faroe [...] the World The waters around the Faroe Islands are said to be the cleanest in the world. The perfect mix of the warm Gulf Stream from the south and the Arctic waters from the north produce a paradise for [...] out cultures to the point of lost identity, things have actually combined in favour of the Faroese. In that sense bad weather has formed the surroundings, the skills and the very soul of the Faroese in a

start thinking of the Internet as an integral part of their marketing strategy and show the world what they have to offer. At the moment, a wealth of information is out there in the middle of nowhere, but [...] Managing Director of SamVit – Faroe Islands Enterprise. As part of a new political strategy the Faroese Government decided to merge the Trade Council and Tourist Board in the beginning of this year. This was done [...] director of the organisation. Unspoiled Territory to Explore What advantages do the Faroe Islands have as a travel destination? The fact that our country is a small archipelago in the middle of the big ocean