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 Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

Deepwater Semi-Sub COSL Prospector Delivered

COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province.

New Tidal Wave Energy Device Completes Sea Trials

In the continuing quest to harvest efficient, renewable energy from the power of the world’s tides, an organization called Sustainable Marine Energy’s announced

Environmental

Bouchard Vessels Honored by SCA

Forty-three Bouchard Transportation Co., Inc. vessels have been honored by The Chamber of Shipping America (CSA) with Certificates of Environmental Achievement.

Deepwater Semi-Sub COSL Prospector Delivered

COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province.

New Tidal Wave Energy Device Completes Sea Trials

In the continuing quest to harvest efficient, renewable energy from the power of the world’s tides, an organization called Sustainable Marine Energy’s announced

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2384 sec (4 req/sec)