Sep 2016: The Faroese Geological Survey (Jarðfeingi) is revisiting offshore exploration data during the run-up to the 4th Faroese offshore licensing round in 2017. Only 9 offshore wells and one redrill have been drilled since exploration started in 2000, the last two (Brugdan and Súlan/Stelkur) in 2014. The areas that will be offered are to the southeast of the islands.
No significant news in 2015.
No significant news in 2014.
Jun 2013: The Faroese Trade and Industry Minister awarded 6 blocks to DONG Energy in the Open Door Licence Round. The blocks are located in the Faroe-Shetland Basin, west of the UK fields, Foinaven and Schiehallion. The blocks are near to a recent licence award to DONG in the UK 27th Round. The first Faroe Island licence round was in 2000 and DONG was a partner in the first oil discovery, Marjun.
May 2013: ExxonMobil increased its interest in license L016 containing the prospect, Kulubokan. A 3D seismic survey was acquired over the structure in 2012 and a decision on drilling is due in 2014. The last well in the Faeroes was in 2012 on the Brugdan II prospect which was suspended due to bad weather.