north than those included in the area on offer in the first licensing round. In addition to blocks adjacent to existing licenses the blocks northwards of the area on offer in the first round still appears to [...] the area on offer in the first licensing round was selected, oil companies nominated blocks to be included. The nomination took place in 1996 and a few oil companies showed interest in the Faroe Bank Channel [...] wells were drilled in 2001. This year no well has been drilled in Faroese territory, but next year Agip will drill its commitment well, and other operators are planning to drill in 2004. Looking at the

average share of 40 %. In Norway Sagex has an interest in two licences in the Norwegian Barents Sea, and one in the Norwegian Sea. In Denmark the company is operator for one licence in the North Sea. On the [...] round, the first since 2005. On the subject of elephants, we in the Faroes place our hopes and confidence in the belief that the first elephant Sagex manages to hunt down will be the one in our own back [...] Sagex will be well positioned for the first licensing round, in 2009. Geysir/Sagex has been active in promoting exploration offshore Iceland and has been instrumental in the acquisition of a 2800 km high-tech

ro is the most active oil company in Faroe territory. StatoilHydro has been the pioneer in several areas in the Faroes and was the first operating company to drill in the Faroes. This was the “Longan” [...] licenses stems from the first bidding round in 2000 – the so-called “Brugdu” area, where we drilled a well in 2006. The other four licenses were awarded to us in the second round in 2005. We have so to speak [...] was also the first operator to drill through Faroe basalt; this was the “Brugdu” drilling in 2006. It has to be said that the company has been very active since the first bidding round in 2000. Sosialurin

growth in Atlantic 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 [...] Exchange in Iceland in 2005 and OMX Copenhagen Stock Exchange in Copenhagen marked a significant develop­ment in the organisation of the Company. Meeting the require­ments for full transparency in all company [...] has been in two phases: The first phase running from 1998 to 2001, where we got our first licenses outside the Faroe Islands and the second phase from 2001 to the end of last year. At this point in time the

companies was in 2000 awarded license no. 001 from the first Faroe bidding round, and since then progress has been very swift. The company has today ten people employed. Five in the Faroes and five in London [...] company is also a partner in several licenses in UK waters, whereof some are already producing oil. The company has now, for the very first time, made a commercial oil discovery in an exploration well and [...] successful drilling will most likely also affect the role of Atlantic Petroleum in the pending exploration drillings in the Faroes in connection with a third bidding round. The company will continue to expand

hydrocarbons in the Faroes area were found on land and comprise coal deposits, organic waxes found in basalt, and inconclusive traces of oil mixed with water in the Lopra-1 experimental well drilled in the early [...] five commitment wells to drill under the four six-year licences awarded in the First Faroe Islands Offshore Licensing Round announced in August 2000. However, while we know that one of the three wells drilled [...] (6005/15-1) was drilled this summer in licence area 003, 130km southeast of Faroes to a total depth of 4000m, terminating in Paleocene sediments. Rolf Magne Larsen, who is in charge of the Norwegian company

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, did [...] In the Faroes not a single drop of oil has been produced yet, but this situation has not prevented income from large oil revenues. In total the Faroese society has made app. 200 million kroner directly [...] 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 exploration

with the major industrial development taking place in one of the UK?s remotest and rural communities, it is worth noting that when oil was first found in the northern North Sea, some 30 years ago, many [...] to be good for us.? However, the debate in the islands quickly focussed on whether the oil harbour and the ground the terminal stands on should be in public or in private ownership, he said ?Eventually [...] keep in the community and create the facilities for the future.? Subsequently, the council?s representatives managed successfully to make their case to the UK government in London, which resulted in the

and engineers employed in various locations, mostly at Verdal in Norway and Wallsend on Tyne in England. Load-out will take place next summer, with the expectation at BP that first oil will be achieved before [...] for sanction in 2001. That came symbolically when, in November that year, Energy Minister Brian Wilson gave it the green light. Phase-1 concentrates on the core, Graben, and Horst segments in the southern [...] jacket platform located in 165m of water, with output based on 15 production wells, eight water injectors, and one drill cuttings re-injection well. First oil is anticipated in Q3 2004, with daily output

the Supply Service company, based in Leirvik, is not an active player in the offshore industry. However, from July of 2009 they will have close to 100 employees engaged in the offshore industry. They will [...] -“If all goes to plan we should, in July 2009, have three supply vessels. They should be delivered in January, April and July, respectively. Two of them are already on long-term contracts”, says Mr Tummas [...] three PSV (platform supply vessel) vessels. -“The vessels have been built in Lisbon and Istanbul, and two have been finally furbished in Norway. The vessels are all sister vessels and are dual-hulled, clean