Faroe Islands sets third licensing round
Offshore staff
TORSHAVN, Faroe Islands -- The Faroe Islands' Minister of Fishery and Natural Resources has announced the third Faroese licensing round.
The acreage on offer lies to the east, south, and southwest of the Faroe Islands. It covers 38,405 sq km (14,829 sq mi).
When awarding exploration licenses, emphasis will be placed on the work programs that the applicants are willing to undertake. In addition, it is important that Faroese industry is given an opportunity to participate in the activities to allow hydrocarbon exploration and production to contribute to a more diversified business community, the minister says.
Applications must be submitted to Jarðfeingi by 12 noon on Nov. 3, 2008.
The Minister intends to award licenses by the end of 2008.
Relevant material may be requested from Jarðfeingi or downloaded from the website:
www.jardfeingi.fo
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