Transcript Dias nummer 1

Exploration –
A Discovery for the Faroese
community
Tórshavn, Faroe Islands
4th June 2013
Petur Joensen, Jarðfeingi
General
• A “discovery” has materialized....
• Exploration potential
• Domestic and overseas potential for local
entities
• Framework initiatives to be considered
Status - exploration
• Number of licenses and licensees
decreasing
• Five active licenses
• Five licensees:
– Statoil (operator)
– Atlantic Petroleum, DONG, ExxonMobil, OMV
• New licenses probably granted shortly
• Seven wells drilled, one temporary
suspended
• One firm well commitment 2014.
Licence map
Status - exploration
– Current licence periods 2015. Negotiations on
extensions.
– Sindri
•
•
•
•
Licence commitment.
Administrated by FOÍB.
Knowledge increased.
Drilling technique developed.
Public revenue
Derived activity
• Industrial competence lift
– App 120 MDKK allocated
– 400-500 projects funded
– Licence Operators administrate the scheme
• New opportunities captured
– Companies and individuals have pursued new
opportunities – and have succeeded
• Supply, standby, chase, telecommunication, flight,
IT, craftsmen, officers, management etc. ....
• Hundreds of jobs. Substantial share of GDP.
From here...
• Pursue further exploration
• Expand derived activity
• Synergy: Initiatives aiming at benefits for
exploration and derived activity
From here...
Exploration:
• Mature prospects
• Promote prospects
• Basalt challenge
– Sindri consider most important challenges
– Join effort with others?
• Other research
From here...
Derived activity:
• Pursue further local content
– Domestic
– Overseas
• How
– Review competence lift scheme
– Review administration of local content
– Review Sindri set up
– Overseas: Industry lead initiatives,
supported by legal framework
• Hydrocarbon Planning Commission was a
success, which can be learnt from...
…a reminder to all of us:
“The oil did not come drifting on a
plank”
Gunnar Berge,
Chairman of Petoro, former minister and
former director for the Norwegian Petroleum Directorate:
Thank you