Posted: 02 June 2004
Second licensing round on the Faroe Shelf opens in August
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
Posted by Richard Price,
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