FOÍB (Faroese Oil Industry Group) is a joint association for the Oil Companies that have been granted licence to explore for oil on the Faroese continental shelf. The creation of FOÍB provides a single point of contact with the Faroese authorities and institutions on matters of broad policy and on general operational issues. 

FOÍB will ensure that jointly funded projects are managed and the result disseminated in an efficient and effective manner. FOÍB will pursue a full range of activities of relevance to the Faroes. 

Scope and Objectives for FOIB

  • To maintain and expand the knowledge base for the Faroese area obtaining new data for the benefit of the development of an offshore oil & gas industry in the Faroe Islands.
  • To engage in constructive dialogue with interested parties in the Faroes as a forum for industry communication with the Faroese Authorities and other interested parties.
  • To strengthen and promote the development af a competitive Faroese oil industry through co-operation and stakeholder dialogue.
  • To address regulatory and fiscal issues whilst maintaining the highest commitment to HSE matters.

Contact Info

Bryggjubakki 22
P.O. Box 2121
FO-110 Tórshavn
Faroe Islands

Telephone: +298 311822