Status of the Exploration Efforts in the Faroese Part of the Atlantic Margin

The Faroes and the Atlantic Margin a few years ago was perceived by most of the oil industry to be one of the major hot-spots for frontier exploration. Commercial hydrocarbon discoveries and oil production on the UK side of the border seemed to give hints that similar geological conditions existed on the Faroese side of the border. Indeed, the Faroes being relatively close to the markets of Europe, having a stable political system and a transparent fiscal system, all seemed to speak in favour of the Faroes. Since then, four exploration wells have been drilled with only modestly successful ..