Country Report

Faroe Islands upstream summary

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26 April 2019

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
    • Introduction
      • Geological evolution
      • Faroe-Shetland basin
    • Licensing
    • 2019 licensing round
    • 2017 licensing round
    • Historical licensing
    • Drilling
      • Drilling activity
      • Onshore
      • Offshore
      • Historical onshore activity
      • Historical offshore activity
  • Reserves and resources
    • Oil/Liquids
    • Oil infrastructure
    • Gas infrastructure
    • Future Projects
    • Key legislation
    • Regulatory body
      • Regulations governing hydrocarbon activities
    • State oil company
    • State participation
    • Licensing
    • 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 8 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Map of Faroe Islands Acreage
  • Drilling Activity by Well Type
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • GEM models

What's included

This report contains:

  • Document

    Country Overview

    PDF 6.71 MB

  • Document

    Country Overview

    XLS 144.00 KB

  • Document

    Country Overview

    ZIP 6.65 MB

  • Document

    Key facts

    PDF 683.69 KB

  • Document

    Location maps

    PDF 5.30 MB

  • Document

    Geology

    PDF 695.28 KB

  • Document

    Exploration

    PDF 2.02 MB

  • Document

    Reserves and resources

    PDF 687.81 KB

  • Document

    Production

    PDF 680.19 KB

  • Document

    Infrastructure

    PDF 691.05 KB

  • Document

    Policy and regulation

    PDF 695.45 KB

  • Document

    Fiscal terms

    PDF 731.23 KB

  • Document

    Executive summary

    PDF 694.57 KB

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