Faroes Islands enlists help in exploration drive
Interest in the Faroese offshore may be buoyed by exploration success in adjacent West of Shetland waters
The Faroe Islands will launch a joint licensing round this month with the UK, targeting increased exposure through the initiative with the aim of sparking renewed exploration interest in waters along its maritime border with Britain. But the complex geology in the area and its remote location may still dampen enthusiasm among energy firms that are averse to riskier plays. The 5th Faroese licensing round, which will be released jointly in mid-July with the UK Oil and Gas Authority's (OGA's) 32nd round on an unconfirmed date, will offer 9.4 sq km² of offshore blocks. Detailed seismic data kits, favourable income tax conditions and lower application fees as cheap as DKK150 ($22) for a preparato
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
