among the oil and gas industry. He said the company and its partners were confident that the project would go ahead, despite the present gloom in the industry fuelled by relatively low oil prices. "This is [...] Og fyri Føroyar kann hetta fáa alstóran týdning, um so er at gass verður funnið her eisini. FRENCH oil company Total are upbeat about their £2 billion Laggan/Tormore gas development west of Shetland and [...] Frigg pipeline system leading into St Fergus. Total expect initially to produce 100,000 barrels of oil equivalent per day, using up all the capacity of the two 18 inch pipelines for the first four years
regarding the Faroes in an oil industry context. Close to oil areas As oil has become extremely expensive, oil companies are looking for alternative ways to reduce their own oil consumption. This could soon [...] monitored oil industry developments for a long time and has prepared itself to expand activities. This means we have several areas available, which within a very short time can be developed for oil industry [...] not participate we cannot expect to gain anything, it’s as simple as that”, says Mr Klæmint Østerø Oil industry supply harbour In the longest fjord in the Faroes lies the port of Runavík. For the past few
an offshore industry. They operate the only oil industry supply base in the country and are able to offer a complete service to the large oil companies. Oil activities Since the company was founded in [...] and extensive experience within the service sector and trade in general with the oil industry, through operating the oil industry supply base in Rúnavík. The ASB head office on the Runavikar town council’s [...] established a broad subcontractor base, offering services and equipment at competitive prices. ISO certification Since the last oil exploration activities, ASB has improved its services even more. They now hold
competitive price wise. -“Our geographical location is one of the foremost reasons for us to present ourselves to the offshore industry. The sailing distance to the Faroes is short from most oil areas in [...] its daughter company PAM Offshore Service, has delivered skilled labour to the offshore industry Oil industry The history of Faroeyard began already way back in 1898, when Vestmanna Skipasmiðja was e
people. This is a major challenge, but of course has its benefits in relation to the high oil price, something most oil companies are happy about. This is the main reason for the high level of offshore activity [...] the Norwegian continental shelf, and since 2001 we have been working with most of the big, leading oil companies. Our strong expertise within exploration – seismic and geology is valued, says Helge Hammer
Director for Keel Solution, Mr Dánial Hoydal. -Very much is happening in the oil industry at the moment. Oil prices are high and oil companies are interested in increasing effectiveness where at all possible [...] requirement for a system, which is capable of collecting all the knowledge accumulated in oil companies. A large global oil company recognised the value of such a system and they wanted it developed immediately [...] on the agenda. This month Keel Solution is participating in the large oil exhibition in Stavanger. All knowledge in one system Oil company activity is complex and extensive. Therefore, it is very important
interests between exploring for oil and developing an oil industry and at the same time to look for other ways of producing energy. We need the oil, and incomes from oil can help us invest in alternative [...] between the Faroes and Shetland, as an area for oil and gas exploration. As a Minister for Research, I find it tremendously intriguing to think about oil exploration in this area, also known as the Atlantic [...] - - - Regarding a coming oil industry, it is immensely important that our government is in full control over all recourses in the Faroese subsoil. We are aware that the day oil revenues come flooding into
The Faroes has herself never been to war. From remote to central The Faroes have always paid the price of being “The Far Away Islands”. But this remoteness is no longer an obstacle. Modern technology makes [...] solutions in the IT field aswell with Simprentis being a world provider of educative simulation for the oil industry. The fishing industry is also devoping fast with both traceability, utilization of all the
years USA was the main market for faroese fish products.Generally the market was favourable with high prices, which the european markets generally could not compete with. Both the faroese fish industry and [...] operations outside Faroes, should study US financial opportunities. We have high hopes for a Faroese oil industry and no doubt we will see more to US companies in this field in the coming years. Of course [...] and Faroes, the smallest one, will benefit of more co-operation. Johan Mortensen, Manager for the US oil company, Anadarko Faroes Company
somewhat afraid of imposing demands upon the oil companies in case they scare them off: – I think there is no reason for such an attitude, because as long as the oil price is where it currently is, the Faroes [...] He thinks that as long as we are exploring for oil, we can defend such a demand, but the question how do we follow up and control such a demand if an oil industry emerges. – I am not saying that such a [...] – We must not afraid to impose demands upon the oil companies, which are active and intend to work in Faroe waters, says Mr Rasmussen. Supply Service Leirvik, which operated supply vessels from the Norwegian
