is believed to be targetting a sizeable gas structure to the north of the block, close to the limit of UK designated acreage«. Mobil will doubtless play it cards close to the chest. But if a find is made [...] Press & Journal It is of course easy to be cynical aobout the time taken to achieve a workable compromise on the resources beundary between the UK and Faroe. After all, if a relatively simpel issue concerning [...] year, but only a few and the hoped for Clair field development remains on ice, having been stopped a year ago. Just now, Mobil is out there on the Frontier, working with the Jack Bates, a deepwater capability
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the offshore-industry have to pass through Faroese on-shore-territory. It seems to have been less obvious to the Faroese decision makers, and certainly this does not seem to have been given very much specific [...] involvement has not (only) been a matter of ensuring a certain share of the economic benefits from the oil-industry to remain in the Faroes, but more importantly has been based on the wish that the Faroese society [...] issues and in relation to the more specific and/or special oil and gas law issues. Mr. Jóhannus Egholm Hansen and Ms. Penelope Warne both confirm that it is a declared aim to reach a level of activity in
company is expected to float on the London Stock Exchange early next year in a bid to raise £10-20million to finance its participation in the great, slow-pace Faroese oil race. ?We?re ready to go ? waiting for [...] Drilling of well 6004/12-1 started on July 23, some 27km to the northwest of the UK sector Suilven discovery, and was eventually completed on September 19. The well was taken to a total depth of 4,354 metres [...] the next two to three years, convert the discoveries into commercial projects and guarantee the islands a place among the world?s oil and gas nations. Quite how this will be achieved is a question that
serves as a powerful symbol of the impact oil has had on the Orkney Islands. A huge orange flame has blazed above the Flotta Oil terminal for almost a quarter of a century now. It can be seen on clear nights [...] in cinemas across the country in 1983. One scene in particular struck a chord with people here. The Hollywood star Burt Lancaster steps out of a helicopter on to a remote Scottish beach. Playing an American [...] oil terminal on Flotta. While the giant plant was being built, Dr Hammer decided he wanted to give Orkney a gift - and what better than a piano. Today, as the islands prepare to look back on 25 years of
Section 4 income. The decision on what tax rate to use on »derivative income« may be a complex one because there are several alternatives, depending on whether the taxpayer is (1) a wage earner (employee) or [...] foreign taxpayers. A. Faroese International Register of Ships (FAS) A.1 Refund to the Shipping Company According to this rule the Faroese shipping company is entitled to get refunded a part of the wages [...] different taxation options on crew?s wages as differentiation has to be made between 1) wages earned on board fishing vessels (catch-wages) and 2) other wages earned at sea on board on A) vessels registered under
that the UK Labour government was willing to hand down far reaching powers to the local government of the islands, which enabled local councillors to negotiate on a more equal level with the oil bosses. Known [...] massive oil terminal at Sullom Voe will be able to handle oil extracted from Faroese wells. A simple look at a map of the North East Atlantic reveals how close the infrastructure, which is being developed [...] gas as well. He sees a good chance that some of the oil may come Shetland?s way, particularly if a »critical mass of discoveries« can not been made to justify the construction of a similar oil terminal
went for 5 days in 2002 and thought it was pretty shite. A day trip this time and it was a belter, although I do think I missed out on seeing how Torshavn had change, sigur hann. Hesin sami fjepparin greiðir [...] superlatives, it's too difficult to weigh up one trip against another. Bordeaux, Bydgoszcz, Hong Kong and Japan have probably been my most memorable trips. But this is now my number one, best ever trip. And I don't [...] føroyingar eru einastandandi. – What a party that was, brilliant weather, not as expensive as everyone was making out, beautiful birds, rocking bars, friendly locals willing to give you lifts everywhere, skrivar
whose official papers have been transferred to southern European countries, where tax is substantially lower. Another issue is, how do you tax people and how do you tax investments?”, says the minister. [...] the Faroes, the Nordic countries, of which the Faroes and a partner to, are working on a new multilateral tax agreement, which is intended to come into force in 2010. [...] be taxed twice. On the other hand an agreement has been reached between the two countries how these tax revenues shall be divided”, says Mr Laksafoss. It normally takes a long time to reach such agreements
on-going on how to link oil platforms to the mainland. Already when the FarIce-cable was laid, this issue was debated, and when the SheFar-cable became a reality a link between oil platforms and the mainland also [...] in the Faroes, is about to sign a contract with one of the world’s largest oil companies British Petroleum or better known as BP. This is a five-year contract and could be close to 100 million kroner writes [...] capacity for a five-year period. The linking of oil platforms west of Shetland ashore is not a new idea. The demand for a permanent link ashore has been around for many years and a dialogue has been on-going
