Faroes licensing due after boundary deal

05/17/1999
A long dispute over the maritime boundary between the U.K. and the Faroes Islands has been resolved, clearing the way for licensing of the area for oil and gas exploration. The agreement was due to be signed by the U.K., Faroese, and Danish governments in the Faroes capital of Tors- havn during a May 18-19 visit. Fishing considerations have been a major factor in delaying the deal. The U.K. Foreign Office said, "The agreement will make it possible for both parties (U.K. and Denmark-the Faroes are a Danish dependency) to hold petroleum licensing rounds as soon as practicable." The U.K. Department of Trade and Industry is keen to offer licenses along the border, which runs ...
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