Jul 2019: The Faroese Geological Survey announced the launch of the 5th Licensing Round to be run in conjunction with the 32nd UK Round and with similar terms. Applications are due by 12 November 2019.
No significant news in 2018.
No significant news in 2017.
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.