Interest in Offshore Exploration in Greenland Growing

Monday, July 24, 2006
Several of the world's largest oil companies hope to tap into possible offshore oil and gas reserves as Greenland opened a new round of concessions for exploration licenses in the fragile Arctic region. Eyes of an oil-thirsty world have turned to the shores of the semiautonomous Danish territory amid rising fuel prices, Mideast instability and concerns over future supplies. The Greenland government hopes to make big gains from any reserves found in its icy waters, but environmentalists say oil exploration there could damage a sensitive region already under threat by global warming. The names of companies attending the meeting and what conditions the Greenland government would put forth for exploration in the Disko Bay- the area being opened for the current round of concessions- remained undisclosed. Oil exploration off west Greenland started in the 1970s but stopped after five failed drilling attempts. Activities resumed in 2001 off Nuuk, the Greenland capital. Canadian company EnCana last year became the first company to win a license for offshore oil and gas exploration off Nuuk.In 2008, Calgary, Alberta-based EnCana is expected to start drilling in areas believed to have reserves ranging from 400 million to 1.2 billion barrels of oil. (Source: Houston Chronicle)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Corima Acquires Damen ASD 2810 Tug

On 20 January 2016, Corima, part of the Italy-based Gesmar Group, held an official handover ceremony for a Damen ASD 2810 tug. The festivities were attended by

HHI to Localise Main Equipment for Offshore Plants

Hyundai Heavy Industries and Doosan Heavy Industries Collaborate in Localizing Main Equipment for Offshore Plants   Seoul, South Korea – February 4 – Hyundai Heavy Industries (HHI),

European Consortium Launches Blue Nodules Project

On 1 February a European consortium launched a new Horizon 2020 project: Blue Nodules. This project addresses the challenge of creating a viable and sustainable

Environmental

VPS Raises Concerns Over Revised Rules for Fuels

Veritas Petroleum Services (VPS) expressed reservations about some of the proposed revisions to the international ISO 8217 specifications of marine fuels. Areas

China to Enforce Low Sulphur ECA in Yangtze River Delta

Vessels calling ports in China’s Yangtze River Delta, including Shanghai, will be required to burn low sulphur fuel while at berth from April 1 this year.   China’s

USCG Issues Zika Virus Precautions

Recently, the World Health Organization designated the Zika virus as a global public health emergency. This has prompted questions from the maritime industry regarding

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0698 sec (14 req/sec)