Faroes licensing round [171,499 bytes]
The Faroes Oil & Gas Co. (FK) and London-based Dana Petroleum plc have declared their intention to bid together in the forthcoming Faroe Islands offshore licensing round.
The Faroese parliament is expected to debate proposals for the islands' first licensing round in October, following the recent signing of a maritime boundary agreement with the U.K. (OGJ, May 17, 1999, p. 33).
The number of blocks to be made available for licensing has not been decided, but a number of international oil and gas companies submitted suggestions to the Faroese government in 1996 (see map).
Nils Sorensen, chief executive of Torshavn-b...