Block 6 is located offshore northeast Greenland in a frontier area. Statoil will hold 52.5%, ConocoPhillips will have 35%, and Nunaoil will have 12.5%.
The license has a 16-year exploration period. The first work carried out is seismic acquisition, after which decisions on further work will be made. Statoil has carried out both shallow core drilling and scientific work in the area to understand the operating environment.
This is not the first time Statoil has carried out activities in Greenland. In the 1990s, Statoil drilled an exploration well in the Fylla area west of Greenland, but the company relinquished this exploration license in 2002. Statoil is also partner in three licenses – Anu, Napu, and Pitu – in the Baffin Bay west of Greenland.
Statoil already holds offshore positions in Arctic conditions in Norway, Russia, the US, and Canada.