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Faroese Petroleum Administration

Posted: 02 June 2004

Second licensing round on the Faroe Shelf opens in August 2004

Last month Parliamentary Act on the Second Licensing Round was passed by unanimous vote in Parliament.

The objective of the Second Licensing Round is to create a basis for continued exploration activities on the Faroe Shelf with the purpose of identifying commercial quantities of hydrocarbons in the subsoil and subsequent hydrocarbon production.

The Second Licensing Round for exploration of hydrocarbons on the Faroe Shelf will open on 17 August 2004. Applications must be submitted to the Petroleum Administration by 17 November 2004. The Minister of Petroleum expects to award the licenses of the Second Licensing Round in January 2005.

Parliamentary Act on the Second Licensing Round, model license and map of the area offered for licensing are available on the web page of the Petroleum Administration at www.ofs.fo

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Posted by Richard Price, Editor EnergyME.com

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