Country Report

Faroe Islands upstream summary

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23 February 2016

Faroe Islands upstream summary

Report summary

The Faroese Continental Shelf (FCS) remains an under-explored frontier area, with only reservoirs of Paleocene age having been drilled. The shelf is to a large extent covered by thick Tertiary flood basalts. Onshore, the basalts are several kilometres thick, but thickness decreases to the southeast towards the UK's West of Shetland acreage. This layer is thin or absent in the Judd Basin, located within the Faroe-Shetland Basin.The first seismic surveys on the FCS were carried out in ...

Table of contents

  • Key facts
  • Location maps
    • Introduction
    • Tectonic Setting
    • Faroe-Shetland basin
    • Licensing
    • First Licensing Round
      • Corporate Activity
    • Second Licensing Round
      • Work Commitments
    • Third Licensing Round
      • Work Commitments
      • Corporate Activity
    • Fourth Licensing Round
    • Open Door Licensing Round
    • Drilling
      • Drilling activity
      • Onshore
      • Offshore
      • Future drilling plans
  • Reserves and resources
    • Oil/Liquids
    • Introduction
    • Oil infrastructure
    • Gas infrastructure
    • Key legislation
    • Regulatory body
      • Regulations governing hydrocarbon activities
    • State oil company
    • State participation
    • Overview
    • Current fiscal terms
      • State equity participation
      • Taxation
      • Bonuses, rentals and fees
      • Other bonuses and fees
      • Indirect taxes
      • Other production taxes
      • Contractor Revenue Entitlement
      • Product Pricing
      • Sample Cash Flow
    • Historical background
      • 1990s
      • 2000s

Tables and charts

This report includes 13 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Map of Basins
  • Exploration: Table 1
  • Exploration: Table 4
  • Map of Current Licences
  • Fiscal terms: Table 1
  • Exploration: Table 2
  • Exploration: Table 3
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • GEM models

What's included

This report contains:

  • Document

    Country Overview

    PDF 893.22 KB

  • Document

    Country Overview

    XLS 466.00 KB

  • Document

    Country Overview

    ZIP 1.23 MB

  • Document

    Key facts

    PDF 67.21 KB

  • Document

    Location maps

    PDF 307.45 KB

  • Document

    Geology

    PDF 192.23 KB

  • Document

    Exploration

    PDF 478.51 KB

  • Document

    Reserves and resources

    PDF 54.41 KB

  • Document

    Production

    PDF 54.05 KB

  • Document

    Infrastructure

    PDF 57.09 KB

  • Document

    Policy and regulation

    PDF 87.06 KB

  • Document

    Fiscal terms

    PDF 125.09 KB

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