The purpose of the Faroe Marine Research Institute (FAMRI) is to make studies of the Faroese marine environment and its living resources, and to inform and advise the Faroese authorities and public about these conditions.
Each year FAMRI informs the Faroese government about the state of fish stocks in Faroese waters and other waters outside that Faroese fishing vessels use and provides scientific advice and assessments according to the law on commercial fishing. For this purpose, FAMRI performs annual fisheries surveys with the research vessel "Magnus Heinason" and chartered vessels, in addition to analysing catches from commercial fishing vessels.