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The first Jóannes Rasmussen Conference will be held in the week beginning 27 August 2007.
CONFERENCE THEMES
* Weathering, sedimentation and pyroclastic activity
* Tectonic development
* Lava morphologies
* Timing of events
* Geochemical evolution
* Exploration potential of basaltic provinces
The "conference is intended to be a forum for the distribution, use and sharing of knowledge and skills between people interested in geosciences, especially volcanology or those interested in the Northeast Atlantic Region."
... More at: jrasmussen.jf.fo
Jarðfeingi acquiring aeromagnetic data in collaboration with the Norwegian Geological Survey, the Norwegian Petroleum Directorate and four oil companies
From 6th May 2007 and approximately 60 days onwards new magnetic data will be obtained from an aeroplane in the offshore area north of the Faroe Islands, including regions both inside and outside the Faroese 200 nm zone, as well as a region inside the Norwegian 200 nm zone, traditionally named the Norwegian Basin.
The survey is conducted from a base at Vágar Airport, but will also utilise airports in Norway.
... More at: www.jardfeingi.fo
September 2006
The Faroe Islands Exploration Conference 2006
The conference, a biannual event dedicated to exploration on the Faroese Continental Shelf, was held this year on the 12-14 September. More than a hundred people came from overseas bringing the total number of those attending to about 160. It was opened by Minister of Trade and Industry Bjarni Djurholm who spoke about drilling licences that are current and noted that drilling was also taking place on the British side. He said these activities had resulted in increased interest in the Faroese area. He announced plans for a third licensing round, which is expected to open in the autumn of 2007.
The conference was held while drilling was taking place off the Faroes on the Stena Don oil drilling platform, a semi-submersible rig operating for Statoil. Drilling partners include DONG, Anadarko, Shell, BG Group, Amerada Hess, Faroe Petroleum and Atlantic Petroleum.
Press release from Jarðfeingi, the Faroese Earth and Energy Directorate:
Statoil submits application to drill sub-basalt well
15 March 2006
This afternoon Statoil as operator of license 006 submitted an application to drill to Jarðfeingi (Faroese Earth and Energy Directorate). According to the legislation an application to drill shall be submitted to the authorities no later than 3 months prior to the spud date.
The well is a result of an approval by Minister of Trade and Industry Bjarni Djurholm in December 2005 to transfer remaining well commitments from licenses 001 and 003 to license 006. License 006 is a 9-year license granted to Statoil in the first licensing round on the Faroe Shelf.
This new well shows that the strategy behind the granting of 9-year licenses for challenging areas in order to mature them as worked as intended.
The drilling operation which is expected to begin in July targets the Brugdan prospect in license 006 which lies on the basalt covered area making this well the first sub-basalt well on the Faroese Continental Shelf.
The companies in license 006 are Statoil 27.15%, DONG 21.91%, Anadarko 13.00%, Enterprise Oil (Shell) 12.47%, Amerada Hess 11.09%, BG Group 10.31%, Faroe Petroleum 4.04% and Atlantic Petroleum 0.03%.
Announcement from the Faroese Earth and Energy Directorate
Merger between Petroleum Administration and Geological Survey
10 February 2006
JARÐFEINGI New name and a new organisation
The Minister of Trade and Industry, Mr Bjarni Djurholm, has decided to merge the Faroese Petroleum Administration and the Faroese Geological Survey into a new organisation. Since the Petroleum Administration was established in 1993 the two organisations have been located at the same place and at times also under shared management. In hydrocarbon exploration matters the two organisations have been integrated and for these reasons the decision to execute a formal merger seems natural. The new organisation has been named JARÐFEINGI. The combined responsibilities of Jarðfeingi is the administration and responsible utilisation of the Faroese earth and energy resources, with the following main tasks: Hydrocarbon matters, hereunder to administer the legislation for hydrocarbon exploration and production. Energy matters, hereunder to administer the legislation for generation, transportation and distribution of energy. Carry out research, consultancy, museum and educational tasks within relevant earth science subjects. The English name of Jarðfeingi is Faroese Earth and Energy Directorate. A new English webpage will be launched on 20 February 2006 at www.jardfeingi.fo
Press release from the Faroese Petroleum Administration
8 December 2005
Agreement on Sub-Basalt Exploration Well
Mr. Bjarni Djurholm, the Minister of Trade and Industry, has today signed an agreement with the license holders of License 006 with Statoil as operator that facilitates the drilling of a sub-basalt exploration well on the Brugdan prospect.
The agreement is a result of negotiations between the licensees of Licenses 001 and 003 and the Faroese Petroleum Administration whereby the new commitment to drill on License 006 is undertaken in lieu of the existing well commitments of Licenses 001 and 003.
After the outcome of the Longan well drilled on License 003 and the Marjun well on License 001 both in 2001, the companies have concluded that the prospectivity of these Licenses has been reduced and that the remaining commitments would be better utilised elsewhere within the Faroese License area. Although hydrocarbons were discovered in the Marjun well the commerciality is considered not to be sufficient based on available knowledge.
Final interest in License 006 will be Statoil 27.15%, DONG 21.91%, Anadarko 13.00%, Enterprise Oil (Shell) 12.47%, Amerada Hess 11.09%, BG Group 10.31%, Faroe Petroleum 4.04% and Atlantic Petroleum 0.03%.
The Petroleum Administration is pleased that an agreement has been reached to drill this important exploration well. The well will test a large anticlinal structure at a sub-basalt level that will provide crucial geological information for the benefit of future exploration and which in a success case can hold significant amounts of hydrocarbons.
The License 006 Group has contracted the Stena Don semi-submersible rig, currently on long term contract with Statoil in Norway, to drill the well in the summer of 2006.
Bjarni Djurholm, Minister of Trade and Industry, is delighted that agreement now has been reached on the second sub-basalt well and that these important wells will be drilled within the next two years. The Minister says that "these undertakings provide for continued exploration activity and fit well with our overall strategy initiated with the second licensing round which is to provide for more exploration acreage, attracting new companies and to obtain synergy effects with developments west of Shetland."
Press Release from the Faroese Petroleum Administration
11. October 2005
Important step in the course of finding commercial quantities of hydrocarbons
Exploration for Oil and Gas on the Faroese continental shelf has taken an important step in the course of finding commercial quantities of hydrocarbons.
Mr. Bjarni Djurholm, the Minister of Trade and Industry has today signed an agreement with the license holders of License 004 and License 007 on the drilling of an exploration well to commence in 2007.
BP Amoco Exploration (Faroes) Limited ("BP") and Shell U.K. Limited (“Shell”), the license holders of License 004, earlier this year initiated negotiations with the Petroleum Administration on the possibility of transferring the two remaining commitment wells in License 004 into a sub-basalt exploration well on License 007.
After the outcome of the Svinoy well, drilled on License 004 in 2001, the companies have concluded that the prospectivity of License 004 has been significantly reduced and that the remaining commitments would be better utilised elsewhere within the Faroese License area. The Petroleum Administration agrees that Faroese exploration will benefit from a well testing a sub-basalt prospect and recognises that the decision to include 9 year “frontier type” licenses as part of the first licensing round now turns out to be the key for making this transfer possible.
BP and Shell have agreed with Anadarko Faroes Company (“Anadarko”), sole Licensee on L007, on drilling an exploration well within the License 007 area to test the ‘William’ prospect. BP and Shell will thus farm into License 007 whereupon BP becomes the operator of the License. BP and Shell will subsequently relinquish License 004.
Bjarni Djurholm, Minister of Trade and Industry, is pleased with the new development for the country’s exploration endeavours and says:
"Oil and Gas Exploration has been taking place for 4 years now. The results have proven the Faroese area to accommodate an active petroleum system and we see now that the exploration efforts are moving away from the Judd basin and further on to the basalt covered part of the Faroese continental Shelf. The well we have agreed today will first and foremost test the license for hydrocarbon bearing formations, but will also facilitate important geological information to be collected for the benefit of future exploration."
"We have seen that Faroese companies, which have been given the opportunity to provide goods and services to the exploration operations, have proven that they are competent and capable of lifting these tasks."
"It is my hope that the companies that now have decided on this undertaking, will succeed in their task for the benefit of our society as a whole."
18 January 2005
Offshore Faroes 2005
Opening address by Bjarni Djurholm, Minister of Trade and Industry
Good morning ladies and gentlemen
It is an honor for me to have been invited to open Offshore Faroes 2005.
Yesterday I had the privilege of handing 7 exploration licenses to 5 groups of oil companies.
It was a pleasure to see that new companies were among the successful applicants, and furthermore that companies already active in the Faroes had not been deterred by the initial results.
As a frontier area the Faroe Islands need applicants that focus on the many opportunities in the area, rather than seeing hindrances.
Two private Faroese oil companies were established prior to the first licensing round. It has been exciting to see how these have developed over the past four years, and how they have widened their activity outside the Faroes. It was good to see that these two companies also were part of the Second Licensing Round.
With the work programmes that have been agreed, I believe that we have reached the objective of the licensing round. Although no wells have been committed in the first phases of the work programmes, I am convinced that the seismic surveys and other work that will be carried out over the next years will mature the Faroese area, so that the license holders can proceed to drilling wells and hopefully finding commercial quantities of hydrocarbons.
The confirmation of the Lochnagar find on the UK side of the border has obviously nourished our beliefs in the Faroe Islands as a petroleum producing country in the future.
The oil companies that have remaining commitment wells from the first licensing round have contacted the Petroleum Administration on the possibility to move their commitment to other areas. These negotiations will continue this spring.
We have all acknowledged that our initial expectations were too optimistic and have realised that petroleum exploration takes time. However I believe that petroleum exploration will be one of the new industries that are necessary in order to move the Faroes towards a more diversified business community.
It is therefore only a natural step to decide to integrate the traditional offshore Faroese conference with a session on the structure of our industry.
I have been looking forward to hearing these local and international capacities discuss how to encourage the growth of other industries besides the fishing industry so these can constitute a significant contribution to the Faroese economy. This autumn I appointed a working group to prepare a new industrial policy for the Faroe Islands and I hope that the afternoon session will provide inspiration for that work also.
Let me at the end take this opportunity to thank the organisers for this recurring conference, which has become a good opportunity for those of us who take an interest in our business community and the oil industry to meet and discuss issues of mutual interest.
Thank you
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Press Release from the Faroese Petroleum Administration
17. Januar 2005
Second License Award in the Faroe Islands
This afternoon Mr. Bjarni Djurholm, Minister of Trade and Industry awarded 7 licenses under the second Faroese licensing round to 8 oil companies organised in 5 groups or as individual companies.
The Minister of Trade and Industry Bjarni Djurholm says: I am pleased with the number of licenses awarded and the work programmes that have been agreed. It is important that we proceed with exploration activities to establish whether our subsoil holds commecial hydrocarbon deposits.
The license terms vary from 3 to 8 years and are divided into shorter sub-phases of 1-5 years with intermediate decision points where it shall be decided whether the Licensee continues to the next Phase of the License Term or whether the License shall be relinquished. A firm work programme has been agreed for the first phase.
The work programmes cover seismic and other suveys as well as processing and interpretation with the purpose of maturing the licensed areas for future exploration drillings. Two of the licenses contain stipulations on exploration wells for the subsequent phases of the license. In addition DKK 10,6 millions have been granted to projects of relecance for future investigation of the Faroe Shelf and DKK 13,7 millions to competence development of the Faroese business community.
Go to the Faroese Petroleum Administration web site to see the names of the groups and the companies that have been awarded exploration licenses and a map with the coordinates.
Press Release from the Faroese Petroleum Administration
17. November 2004
Second licensing round on the Faroese continental shelf is closed
When the deadline for submitting applications for exploration licenses in the second licensing round on the Faroese continental shelf expired earlier today, the Faroese Petroleum Administration had received 9 applications from 8 companies which are organised in 5 groups or individual companies.
I am satisfied with the number of applications. It is part of our future exploration strategy to expand exploration activities to the basalt covered areas. This is a technically challenging area, and therefore we are pleased that the companies which have submitted applications today, to a large degree are companies that are already active on both the British and the Faroese part of the Atlantic Margin.
It is my hope that the activities which will take place in connection with this licensing round will provide new information in the work of finding commercial quantities of hydrocarbons in the Faroese subsoil, says Minister of Trade and Industry Bjarni Djurholm.
The second licensing round opened on 17 August this year. The area offered for licensing covers approx. 19,000 square kilometres and is divided into 83 whole blocks and 39 part blocks. The main area lies to the east and south east of the Faroes, while two smaller areas lie to the south-west.
The following oil companies have submitted license applications:
* Atlantic Petroleum
* Chevron Texaco
* Dong
* Faroe Petroleum
* Geysir Petroleum
* OMV
* Shell
* Statoil
Chevron Texaco, Geysir Petroleum and OMV do not hold licenses on the Faroese Continental Shelf from the first licensing round.
The Petroleum Administration will in the following days process the submitted applications, before the applicants are called in to meetings with the Administration, and licenses in the second licensing round are awarded. Licenses will be awarded as soon as possible.
(more at the Faroese Petroleum Administration web site)
Press Release from the Faroese Petroleum Administration
17. August 2004
Second licensing round in the Faroe Islands launched
Following the passing of Parliamentary Act on the Second Licensing Round this spring, the Minister of Trade and Industry today launched the second licensing round on the Faroese Continental Shelf.
The objective of launching the second licensing round is to continue the exploration activities that began under the First Licensing Round in order to establish the existence of commercially exploitable hydrocarbon reserves in the Faroese subsoil.
(more at the Faroese Petroleum Administration web site)
Second licensing round on the Faroe Shelf opens in August 2005
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.
(more at the Faroese Petroleum Administration web site)
Faroese Petroleum Administration - 3 March 2004
Following a general election in the Faroe Islands on 20 January 2005 the Ministry of Petroleum has been abolished and the responsibilities of the Ministry have been divided between the Ministry of Trade and Industry and the newly formed Ministry of the Interior. Petroleum affairs have been placed with the Ministry of Trade and Industry.
(more at the Faroese Petroleum Administration web site)
Offshore Faroes 2003 - 5. Dec. 2003
Presentations for the "Offshore Faroes 2003" Conference in the Nordic House in Tórshavn, The Faroe Islands, December 2003
(more at the Faroese Petroleum Administration web site)
24. Sept. 2003
Invitation to nominate blocks sent to oil companies
(more at the Faroese Petroleum Administration web site)
Faroese Oil News - 04/12/02
A conference called Offshore Faroes 2002 was held in Tórshavn 4. December 2002.
The exploration work is progressing but it will take a while - emphasis was placed on the need for patience.
Faroese Oil News - 02/12/02 (with thanks to David Jutson)
Premier Oil recently announced that it had made an agreement with the BG Group (British Gas) to farm-in (buy a share in) an Amerada Hess operated licence on the UK/Faroes boundary.
DONG, the Danish oil and gas company has come to an agreement with ConocoPhillips on exploration acreage in the Faroese offshore area. As a result, DONG has acquired an interest in Licence 006.
Both of these deals show that the interest in exploration in the Faroese offshore is still "hot".
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The photos at the top of this page show M/V Thor Supplier in its homeport, Hósvík in the Faroe Islands. The vessel is one of the fleet belonging to the Faroese shipping company, Thor Offshore Services. |
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Shetland: 322 km
