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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
