Amerada Hess finds oil near Faeroe Islands

Dec 10, 2002 01:00 AM

Expectations of having an oil industry on the Faeroe Islands are growing after the new discovery in the British sector of the sea area.
An oil consortium led by US company Amerada Hess has found both oil and gas just 25 km from the Faeroese sector of the continental shelf.

The oil well is 30 km north of two very large oil fields, which are already in production. BP, Statoil, Amerada Hess and Agip have started test drillings in the Faeroese area.

Source: Neftegaz.RU
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