Faroe Islands Abolishes Ministry of Petroleum

Following a general election in the Faroe Islands on January 20, 2004 the Ministry of Petroleum has been abolished and the responsibilities of the Ministry have been divided between the Ministry of Trade and Industry and the newly formed Ministry of the Interior. Petroleum affairs have been placed with the Ministry of Trade and Industry.

The new Minister of Petroleum, Bjarni Djurholm, has decided that petroleum affairs shall be organized as an administration under the Ministry.

The former Permanent Secretary of the Ministry of Petroleum, Heralvur Joensen, has taken up position as Permanent Secretary at the Ministry of Fisheries and Maritime Affairs.

Siguro i Jakupsstovu has been appointed head of the new petroleum administration. Siguro i Jakupsstovu is also Director of the Faroese Geological Survey and will function as director of both the Geological Survey and the Faroese Petroleum Administration.

The name of the new administration is "Faroese Petroleum Administration", a name that will sound familiar to those who have followed the development in Faroese petroleum exploration over the years as it is the name that petroleum affairs were governed under initially.

The Faroese Petroleum Administration will be responsible for all administrative tasks related to petroleum exploration on the Faroe Shelf and will be the focal point of contact in these matters.