"What might a world of high oil prices mean for the Faroe Islands?" Tað er evnið, sum vártingið hjá Oljutinginum fer at viðgera Á Vártinginum hjá Oljutinginum fer Professor Paul Stevens frá Centre for [...] Policy, á Universitetinum í Dundee at halda fyrilestur undir heitinum, "What might a world of high oil prices mean for the Faroe Islands?". Úti í heimi hava ymisk viðurskifti ført við sær, at oljuprísurin

economic uncertainty and personal danger, capable of giving jaded oil executives emotional highs and lows. Today, despite high oil prices, companies are reluctant to splash out millions of dollars on risky [...] bit. But, temptation to explore offshore Faeroes is expected to be put in front of oil companies at this year?s Faeroes Oil and Gas show where details of a new round are expected to be released, said local [...] negative impacts of an oil industry on fishing is now widely perceived as being negligible, as the commercial activity is focused on the shallow shelf areas around the islands while the oil industry is looking

of combining to extract value. Of course, the recent volatility in the oil and gas sector and particularly the fluctuating oil price following the events of September 11 has added an extra layer of uncertainty [...] significant growth for a small, start-up company but which would not figure on oil major?s materiality radar. Dublin-based Tullow Oil entered the UK upstream sector by acquiring assets from BP for £201 million [...] York Stock Exchange were shelved as the OSX oil services index went south. Manderson has been concentrating on continuing to build ASCO into a truly global oil industry supply chain business with the level

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

success of the petroleum industry in Newfoundland waters, it still leaves them vulnerable to global oil price and other fluctuations. Accordingly, I believe the most important change is that that has seen [...] it is commercial. But this first discovery does help confirm the expectation that Faroes will see oil and/or gas production sooner or later. It is sure to lead to further interest in Faroese waters, and [...] expanding and diversifying the Faroese economy. This will initially occur through an expansion of oil activity itself, with more Faroese companies following the lead of Atlantic Petroleum, Atlantic Airways

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

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

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

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