Country Report
Faroe Islands upstream summary
Report summary
The Faroe Islands have no history of commercial oil and gas production, but are working to establish an upstream industry. In 2019 the 5th licensing round will be held to coincide with the UK's 32nd offshore licensing round.
Table of contents
- Executive summary
- Key facts
- Location maps
-
Geology
-
Introduction
- Geological evolution
- Faroe-Shetland basin
-
Introduction
-
Exploration
-
Licensing
- Duration
- Relinquishment
- 2019 licensing round
- 2017 licensing round
- Historical licensing
-
Drilling
- Drilling activity
- Onshore
- Offshore
- Historical onshore activity
- Historical offshore activity
-
Licensing
- Reserves and resources
-
Production
- Liquids and gas
-
Infrastructure
- Oil infrastructure
- Gas infrastructure
- Future Projects
-
Policy and regulation
- Key legislation
-
Regulatory body
- Regulations governing hydrocarbon activities
- State oil company
- State participation
- Licensing
-
Fiscal terms
- Overview
-
Current fiscal terms
- State equity participation
- Bonuses, rentals and fees
- Indirect taxes
- Special Petroleum Tax (SPT)
-
Historical background
- 1990s
- 2000s
Tables and charts
This report includes 6 images and tables including:
- Key facts: Table 1
- Country map
- Map of Faroe Islands acreage
- Drilling activity
- Fiscal terms: Table 1
- GEM models
What's included
This report contains:
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