The Faroe Islands are inviting oil companies to explore for hydrocarbons on the Faroese Continental Shelf.
Fifth Licensing Round Area on the Faroese Continental Shelf. © Jarðfeingi.
With the opening of the fifth licensing round, the Faroe Islands are inviting oil companies to explore for hydrocarbons on the Faroese Continental Shelf. This round is being held simultaneously with the 32nd UK round and the terms, conditions and licensing system have been adjusted to those of the UK.
The Faroese Continental Shelf contains great potential and prospects, which are waiting to be further explored, and with only nine wells drilled the area is still underexplored. A working hydrocarbon system has been proven and the area on offer is likely to contain possibilities for hydrocarbons in intra- and pre-volcanics reservoirs (Rosebank and Laggan/ Toremore analogs respectively), possibly trapped by extrusive lavas.
Additionally, potential prospects such as the deep Anne-Marie structure, below TD of the Anne- Marie well, which encountered 350m of gas, also remain untested.
Interested oil companies will receive a complementary data package, which includes all relevant data from the area on offer.
Further Reading on Oil and Gas Activity in the Faroe Islands
Faroe Islands: Will the ‘Land of Maybe’ Eventually Deliver On Its Hydrocarbon Potential?
Clément Blaizot, GEOESPACE
The use of several hydrocarbon seep interpretations over the same area in time-lapse 4D surveys can pave the way for new geological ideas on the Faroe Islands.
This article appeared in April, 2019
Faroe Islands – Europe’s Best Kept Secret
Lis Mortensen, Jardfeingi (Faroese Geological Survey)
An under-explored wonder, tucked far away in the middle of nowhere in the North Atlantic Ocean.
This article appeared in Vol. 14, No. 6 – 2017
Faroe Islands: Success Near
Jane Whaley
For years the Faroe Islands have had to look on while their larger neighbours in north-west Europe have extracted untold riches in hydrocarbons from offshore acreage. Has their turn finally come?
This article appeared in Vol. 7, No. 3 – 2010
