The Faroese Government has thrown its support behind the development of the Rosebank oil and gas field as it steps up efforts to establish its own fossil fuel industry.
Rosebank, the UK’s largest undeveloped oil and gas field, lies just miles from the maritime boundary between the UK and the Faroe Islands.
Faroese trade and industry minister Jacob Vestergaard told Shetland News it was of 'great importance to the Faroe Islands' that oil development east of the maritime boundary is allowed to continue.
The government believes Rosebank, as well as the nearby Cambo field, could increase the prospects of discoveries in Faroese waters and create opportunities for local supply chain companies.
The intervention comes as newly elected Faroese prime minister Beinir Johannesen seeks to encourage international energy companies to explore the country’s continental shelf.
Source: Aberdeen and Grampian Chamber of Commerce
