was to benefit from a massive oil boom. 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 [...] whole. They have funded many economic and social projects and continue to do so. A new cheese factory is about to open and work will soon begin on a modern new library in the Orkney capital, Kirkwall. Funding [...] Danny might not be rich. But he is happy to acknowledge that the plant and its staff been excellent neighbours - and have made a huge contribution to the present prosperity of Orkney as a whole. The wealth

their contractors have to turn their focus towards a new market to find out what that particular market has to offer. This stipulation also commits the local business community which has to be on its feet marketing [...] whole have been carried out in a satisfactory manner. However I still think that this conference is a good forum for dialog between the parties involved, as they from time to time might seem to have opposite [...] privilege to open the first Offshore Faroes conference, and I am honoured to be invited back this year. Last year we were on the brink of a new industry in the Faroese context. Today we have three exploration

together in the West of Shetland,? said a senior BP executive. ?We are much more realistic about what we need to do. We will be drilling in 2004 and are currently struggling to find the right place to drill [...] round at a later date, said a government oil and gas official. ?We included acreage close to the Faeroes in the 19th licence round. We need to do more environmental work in the area before we can open acreage [...] not taken up in the previous 20th round and a batch of assets in the gas prone southern North Sea basin. Acreage in the West of Shetlands and east of the Faeroes Islands will be included in a single round

everybody you met, to nowadays where you can often be on a bus or a plane and you do not know anybody. ?We have also become a much more outgoing community and I think for the better of it. People have been [...] important to get the best deal possible. He said: ?Nobody was particular keen to have oil here because we had lived a certain kind of lifestyle for many years and oil seemed to be too disruptive to be good [...] been actually come to live in Shetland, build their homes and have their families here. They are a bonus to the islands, I believe.?

there is any reason to move the supply base away from Runavik, says Eli Lassen. It is very important to be able to offer good conditions when a rig owner sends a rig for repair in a short/long period of time [...] says Eli. I would like to use Offshore Europe 2007 as an opportunity for me to meet Oil Companies that may wish to come to Faroe Island to drill and, of course, also those who work at a short distance from [...] quality to extract, says Eli, who does not think that the oil should be extracted and taken to the Faroes. It does not make sense to transport the oil to the Faroes and then export it directly to (main land)

wherever you go. It is a miracle that people and creatures have managed to survive here in this seemingly inhospitable place for more than a thousand years. You’ve got to be creative to do that. But there [...] essential in every area of business, and a nation like the Faroes has a distinct strength in this context. I think it’s crucial that we use this as an opportunity. To stay competitive, we have to be inventive [...] and learn how to develop new concepts and fresh thinking. And when setting our goals and objectives, we have to be strategic and think ahead – yet in following through on plans we have to be consistent.

Faroese do not have a long tradition for a travel industry as such, so we need to make people in the Faroes more aware of the fact that they can earn a living from tourism. SamVit has set out to improve [...] of course, have to have effective strategies. This is a very small country and our budgets are equally small – so we must know how to get attention in a way that is not too costly. We have to rely heavily [...] Plays a Vital Role In order to achieve our goals, Internet marketing should play a vital role. People are no longer so dependent upon travel agencies to plan their trip; this can now be done in your own

back to the Faroes in the not too distant future to relax a bit in this most peaceful and enterprising corner of the planet and to seek out a quiet cup of coffee with a newfound friend or two to catch [...] from the sea, they have managed to produce a most remarkable society and at the very heart of that society is a streak of practicality that the world would do well to adopt. A case in point involves that [...] surprisingly, a book on how to build a windmill. Apparently for years it was the largest collection of books in America. Now Jónas knew the realities of living in a harsh environment and he brought along

see other societies, but also needs to get them back home. Small societies The Faroes has a lot to give the world in how to manage remote and small societies and could in the future use this knowlegde [...] . The aim is to develop the Faroes to a knowledge society and in this environment where the country is, at may well be a process that makes the Faroes bring solutions to the world in these areas mentioned [...] Faroes also has experiences of being a non-sovereign political entity. We see a lot of places around the world today with similar problems, and thus this knowledge could be use in diplomacy and in intrastate

globalisation in mind, and this situation is not least beneficial for the smallest actors on the international arena. You might say that the smaller your own home market, the more active you have to be on other [...] what you may find deep down, but one is always taking a risk, and you will not know if you find anything, before you actually hit it with the drill. Let me now, ladies and gentlemen, reassure you that [...] neither do you or me any good. We will in the next few moments hear people, who know far more about these matters. - - - - I will now turn to the Faroese society and political system as such, to give a brief