Faroe Islands launch second oil

Faroe Islands launch second oil, gas licensing round

London (Platts)--17Aug2004


The Faroese trade and industry department Tuesday launched the second
licensing round for oil and gas exploration on the Faroese continental shelf,
it said. The government department said that when awarding exploration
licenses, emphasis would be placed on the work programs that the applicants
were willing to undertake. In addition, it was important that Faroese industry
be given an opportunity to participate in the activities. The area offered for
licensing lies to the east and the south of the Faroe Islands. It covers
approximately 19,000 sq km, divided into 83 whole blocks and 39 part-blocks.
Applications must be submitted to the Faroese Petroleum Administration by Nov
17, 2004. The Minister of Trade and Industry plans to award licenses in
January 2005.

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