In December 2015 Jarðfeingi attended the yearly PROSPEX Conference in London, together with other representatives of the Faroese government. Despite the general recession in the industry, a large number of service providers and oil companies attended this years conference.
Jarðfeingi had a booth with information, in particular, regarding the upcoming 4th Licensing Round in 2017, and with general information about the Faroese continental shelf.
The Jarðfeingi booth received numerous visitors from the oil companies and the sevice industrywho discussed how to improve future work regarding the Faroes area. There is, for instance, a need for improved seismic data in order to in the preparation for the 4th Licensing round, and a lot of work is being put into this at the moment.
From the left: Óluva R. Eidesgaard, geologist, Jarðfeingi; Malan Ellefsen, advisor to the Faroese Government; Jana Ólavsdóttir, geologist,t Jarðfeingi; Áki Johansen, Head of the Representation of the Faroes in London; and Samuel í Geil Bjørnshauge, intern at the Faroese Representation in London.
Both Norway and Ireland have had resent licensing rounds. The Norwegian round closed in December with 26 oil companies applying e.g. for licenses in the south-eastern part of the Barant Sea, which was open for licensing for the first time and seems to attract great attention. The Irish licensing round closed in Septemberwith 43 applications, which is almost three times as many as at the last licensing round held in 2011. Areas of interest include the Rockall Trough, which holds some similarities to the Faroese area So both these regions show signs of growing exploration interest despite the recent recession in the industry.
Apart from the oil companies and service providers, the Faroese booth was visited by the Head of the Representation of the FaroesAmbassador in London, Áki Johansen and his intern, Samuel í Geil Bjørnshauge.