Statoil awarded Greenland license

Statoil

Statoil, along with partners ConocoPhillips and Nunaoil, has been awarded Block 6 in the East Greenland license round. Statoil will be operator of the block.

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.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...