was clearly not so for the UK with its much larger and more diverse economy and wider international interests. Thorshavn had to wait and wait?and wait?and watch BP for one notch up a string of successes west [...] exploration and development costs, and the fact that the area has not been as prilific as the industry had hoped. At last the door is open to the first Faroese oil and gas licensing round to be launched and for [...] for reaching dials where the politics are far more complex and where open conflict may exist. I am, of course referring to the Yugoslavia mess and, nearer to home, Northern Ireland. On the other hand, what

multiply that success several times over during 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 [...] found. Likewise, BP?s well was declared dry, albeit it too produced evidence of oil and gas. And then it was third time lucky ... for Amerada Hess. All three wells were drilled in the Judd Basin, which is [...] the Agip and Foroya Kolvetni (FK) partnership. This is a particularly important time for FK in that, though it is largely owned by Faroese, the company is expected to float on the London Stock Exchange

industries such as construction, post and telecoms, water, food and drink manufacturers and more than four times safer than mining and safer than recreational and sporting activities. The industry continued [...] persuading operators and contractors to share risk and reward and in so doing achieve an initial 30% saving on capital projects. Alliancing and partnering became the buzz words and CRINE proved a success [...] of the Oil and Gas Industry Task Force in 1998 which was part funded by the Department of Trade and Industry and marked the beginning of a closer working relationship between the government and the industry

of the community as a 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 [...] wages paid to staff and contractors over the years, the service industries that benefit from oil-related work and the dues Orkney?s Harbours Department charges the tankers that take oil and gas away from Flotta [...] confidence encouraged people to start businesses and make a success of all sorts of ventures - everything from food processing and crafts to jewellery manufacture and the imaginative way we have developed Orkney's

corporate review by Tullow, listed on both the UK and Irish stock markets, which resulted in it repositioning itself as a fully integrated exploration and production (E&P) company with a focus on active [...] convergence of UK and continental European gas prices helped a revival of corporate interest in the UK gas market. This wave of new interest in an intensity not seen since the 1970s and early Eighties is [...] general trading houses, is another recent entrant to the market by acquiring a package of non-operated assets from Veba Oil and Gas. Bruce Dingwall and his management team colleagues at Aberdeen-based Venture

reveals how close the infrastructure, 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 [...] services required by the East and the West of Shetland oil fields. It is investment today for the ongoing business tomorrow.« Others are more open about their aspirations and hopes. The chief executive of [...] a number of closer business links between Shetland and Faroe. These include mainly transport improvements, but there is no reason why this should not include the transportation of oil and gas as well.

via the Faroe Islands and that stipulation has meant that the oil companies and their contractors have to turn their focus towards a new market to find out what that particular market has to offer. This [...] Ladies and gentlemen, One year ago I had the 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 [...] subsoil holds hydrocarbon accumulations in significant volumes and that poses a new challenge for the authorities, the oil companies and the local industry. The large quantities of data which has been

Partners, AkerKværner, Amec, and Halliburton KBR. The plan is to develop Skarv using 21 subsea wells and subsea production facilities tied back to the nearby Snadd and Grasel fields and produce to an FPSO. BP [...] tonnes proven and probable for oil, plus a further 95million tonnes ?possible and additional?. The gas figures were 35billion cu.m proven and probable, plus 60billion cu.m possible and additional. West [...] 420million tonnes and gas up to 550billion cu.m. West of Scotland is 400million tonnes and 400billion cu.m. The figures are based on data gathered during the 1991 mapping and drilling programmes and are probably

countries in the region. At the same time, keeping a close eye on future offshore UK licence rounds is an important weapon in the explorer?s armoury. The UK will open its 21st licence round next year but [...] 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 there once more [...] nerve-wracking occupation fraught with economic uncertainty and personal danger, capable of giving jaded oil executives emotional highs and lows. Today, despite high oil prices, companies are reluctant

offshore Angola and well above the one in three average offshore Equatorial Guinea and deepwater Nigeria, it is hardly surprising that the North-west European effort is so low key. And, as rigs gradually [...] Scotland/Shetland and Ireland. There is mounting concern both in the UK and Norway with regard to this. That so little data has made it into the public domain does not help. If Australian Stock Exchange (ASX) [...] terminal, and is hopeful of being able to celebrate 40, even 50 years. But that depends on various factors, not least whether much else is found on the UK Atlantic Frontier, White Zone and closer to the Faroes