Press Release - Faroese Telecom has Signed Agreements with Maersk and Hess

Maersk Oil and Gas and Hess Denmark are the first customers that Faroese Telecom has connected to the fiber-optic submarine cable Cantat-3. Maersk and Hess have both signed contracts for the provision of telecapacity for oil- and gas platforms for the next 15 years.
 
"These agreements are ensuring robust high-speed connections to oil- and gas platforms in the Danish North Sea. Adding to this, the Cantat-3 cable is an extra security for Faroese connections abroad," says Kristian R. Davidsen, CEO at Faroese Telecom.
 
Faroese Telecom took over the Cantat-3 cable in January this year from Tata Communications, and other owners. Cantat-3 was originally commissioned in 1994 and has connected Canada, Iceland, Faroe Islands, England, Denmark and Germany in one network. Faroese Telecom has taken over the section of the cable that lies between Iceland, the Faroe Islands, Denmark and Germany.
 
The purpose of buying Cantat-3 was partly to provide an additional connection, thus providing greater security for the Faroese telecommunications with the outside world. Additionally, the plan was to use the cable to sell capacity to generate additional income which could help to secure and finance Faroese infrastructure in the future. The agreements with Maersk and Hess, has to be seen in this light.
 
Cantat-3 lies through the Danish North Sea with high production and activity in oil- and gas fields. “Tyra West", owned by Maersk Oil and Gas, and "South Arne", owned by Hess Denmark, DONG Energy and Danoil Exploration.
 
The purpose of the agreements is to secure the oil- and gas platforms a good, secure and future-proof telecommunication connections to respective offices in Esbjerg and Copenhagen. For Maersk applies, that the link to Tyra West will provide the surrounding fields in the Danish Underground Consortium (DUC) with telecommunication connections from the Cantat-3 cable.
 
These agreements will mean, that monitoring and control can be operated from onshore offices, thus fewer experts will need to stay on the platform. In addition, the crew on the platforms will have the opportunity to use modern high speed broadband, which gives roughly the same communications capabilities as people onshore have.
 
P/f Shefa, a subsidiary of Faroese Telecom, on behalf of Faroese Telecom connects oil- and gas platforms to the cable and has formally signed the agreements with Maersk Oil and Gas and Hess Denmark about lease of capacity.