Country report
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22 Pages

Faroe Islands upstream summary

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 ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 973.31 KB 22 Pages, 10 Tables, 3 Figures
  • Country Overview XLS - 466.00 KB


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Key facts
  • Location maps
  • Geology
    • Introduction
    • Tectonic Setting
    • Faroe-Shetland basin
  • Exploration
    • 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
  • Production
    • Oil/Liquids
  • Infrastructure
    • Introduction
    • Oil infrastructure
    • Gas infrastructure
  • Policy and regulation
    • Key legislation
    • Regulatory body
      • Regulations governing hydrocarbon activities
    • State oil company
    • State participation
  • Fiscal terms
    • 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

In this report there are 13 tables or charts, including:

  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Geology
    • Map of Basins
  • Exploration
    • Exploration: Table 1
    • Exploration: Table 2
    • Exploration: Table 3
    • Exploration: Table 4
    • Map of Current Licences
  • Reserves and resources
  • Production
  • Infrastructure
  • Policy and regulation
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • Fiscal terms: Table 3
    • Fiscal terms: Table 4
    • GEM models
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