Faroese government announces opening of 5th oil and gas licensing round

The Faroese government has announced today that it has opened its 5th oil and gas licensing round, which will run in tandem with the UK’s recently opened round.

That is according to Energyvoice.com.

The rounds will run alongside each other for 120 days and will close at noon on 12 November 2019.

Energyvoice.com writes that the Faroese government hopes to cash in on the increased interest in the UK west of Shetland area, and the border it holds with the East of Faroes area.

As well as having an identical timetable, the two rounds will be linked by the similarity of terms and conditions for exploration licenses on both sides of the border.

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