The prospect of the Faroe Islands becoming an oil-producing centre has been taken into account , and Runavík has already taken steps to meet future demands within the offshore industry. The supply base for the exploration drillings in the Faroese waters is also situated in Runavík. Freight companies provide the Port of Runavík with weekly departures to continental Europe and Britain. Forwarding services, customs clearance, material management and control systems are also provided.
Atlantic Supply Base at the Port of Runavík has been chosen to be the main base for oil operations in the Faroe Islands. This happened in February 2001 when oil companies exploring in the Faroese waters decided that ASB was the no. 1 choice for base operations.
The Atlantic Supply Base is centrally located at the Port of Runavík. The town of Runavík is on Eysturoy, the second largest island in the Faroes. Eysturoy is the easternmost island of the larger islands in the Faroes. This makes Eysturoy an ideal location for a supply base.