Cross-Border Opportunities – Faroes/UK
In connection with the ongoing 31st UK Licensing Round, which closes on the 7th November this year, the Faroese government would like to draw the attention to the possibilities of Cross Border/Out of Round license options in the Faroese area. Special focus is on the sector along the Faroe/UK border in the northern Rockall Trough and Fugloy Ridge adjacent to blocks on offer in the UK 31st round.
There are some large structures across the border, of which the Fugloy Ridge, Ymir Ridge and the Wyville Thomson Ridge, are currently the most promising.
The Faroese government is hopeful that the industry will investigate the above mentioned structures and the potentially large quantities of hydrocarbons, which may be held therein.
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