member of The Faroes Partnership, is participating in the drilling of the third exploratory well on Faroese territory. »It is easier to work together with others if all the parties involved have the same [...] information about the Faroese subsoil and extend the knowledge already acquired by the Faroese Government itself through a well drilled at the beginning of the 1980s. In 1995, DONG formed The Faroes Partnership [...] operators on the Danish Continental Shelf. In the period April 2000 to October 2001, DONG's drilling team has drilled eleven exploratory wells in the North Sea for these companies in the so-called drilling

member of The Faroes Partnership, is participating in the drilling of the third exploratory well on Faroese territory. »It is easier to work together with others if all the parties involved have the same [...] information about the Faroese subsoil and extend the knowledge already acquired by the Faroese Government itself through a well drilled at the beginning of the 1980s. In 1995, DONG formed The Faroes Partnership [...] operators on the Danish Continental Shelf. In the period April 2000 to October 2001, DONG's drilling team has drilled eleven exploratory wells in the North Sea for these companies in the so-called drilling

achieved in the first |Faroes campaign is smack on the global average. The trick now is to multiply that success several times over during the next two to three years, convert the discoveries into commercial [...] inconclusive traces of oil mixed with water in the Lopra-1 experimental well drilled in the early 1980s. Geological mapping of the islands started in 1938 and, among the very earliest surveys known to have been [...] es of the 2-D seismic equipment used and due to the basalt layer that is characteristic of the Faroes Shelf. An offshore borehole was, however, drilled under the Ocean Drilling Programme in the mid-1970s

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 [...] this in turn means that the airguns have to be both deeper in the water, and four or five times the normal size used for exploration. As a result, the equipment required for this type of survey is far from [...] 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

of the islands. The first gas was discovered in the North Sea by BP in their West Sole Field in 1965 and two years later Amoco found the first oil in the Arbroath field. It was 10 years before the first [...] because of the oil industry and the challenge for the Faroes, if oil is discovered in its waters, will be to capitalise on the opportunity yet retain the unique charm of the islands. Aberdeen and the North-east [...] choose to make their homes in the Faroe Islands and push up the prices in the same way as happened in Aberdeen forcing them beyond the reach of most of those not involved in the industry which, although

To taste a flavour of the mood in the islands, look no further than the film Local Hero, a huge hit in Britain when it opened in cinemas across the country in 1983. One scene in particular struck a chord [...] 30,000 in 1901 to just 17,000 in 1971. »One of the most important benefits of the oil era, and one often overlooked, is the way it restored confidence in the people of Orkney,« he said. »Until the 1970s [...] glow for the past 25 years - a sight as familiar to residents as the stars that fill the clear skies above the islands. Islanders treasure the winter spectacle of the aurora borealis. But the source of

by helicopter. Early in the year 2003 you can travel from the airport to Tórshavn via the new tunnel between Vágoy and Streymoy in about 40 minutes. The airport is managed by the Civil Aviation Administration [...] Administration under the Danish Ministry of Transport. The runway is 1,250 metres long and 30 metres wide and is positioned in a security zone of 1,370 x 150 metres. The runway is asphalt and grooved sideways [...] Vagar Airport, the airport in the Faroes, is located on the island of Vágoy. Regular bus and ferry connections are linked to scheduled arrival and departure flights. The trip to Tórshavn takes 1 hour and

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 [...] takes 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 [...] derived from shipping, reference is made to the rules applying to the Faroese International Register of Ships (FAS) that came into force in the beginning of the 90?ies and the rules of taxation on crew?s wages

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 [...] acquired than be bought over. The record of expansion saw the share price double in a year prior to the post-September 11 volatility in the market. In October Abbot completed the acquisition of Deutag of Germany [...] exploration. Roots Gas is another recently formed E&P company which is concentrating on buying producing assets in the southern gas basin. In January 2001, Roots acquired a 50% stake in the Audrey gas field

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 [...] ure, 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 [...] 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