Jul 2021: Greenland has ended its 50-year attempt to become an oil producing nation. It is to stop granting exploration licences and suspend its strategy of searching for oil. The government (Naalakkersuisut) is still committed to developing the country’s mineral potential except for uranium. The decision has been taken “for the sake of our nature, for the sake of our fisheries, for the sake of the tourism industry, and to focus business on sustainable potential.”
No significant news in 2020.
Mar 2019: Greenland Gas & Oil (operator, 93.75%) and Nuna Holding (6.25%) confirmed the award of a new licence (2018/40) and extension of existing licences (2015/13 and 2015/14) on its Jameson Land acreage, onshore south-east Greenland. The drilling programme is expected to commence in winter 2020/21 with 2 wells per season.
Oct 2018: China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC) have expressed interest in bidding for onshore oil and gas blocks to be offered in 2021. The next blocks to be tendered will be on the Disko Island and Nuussuaq Peninsula area of West Greenland.
No significant news in 2017.
No significant news in 2016.
Jan 2015: Statoil has handed back 3 of its exploration licenses off the west coast but kept one license (Block 6) off the east coast where the deadline for drilling is longer. GDF Suez and DONG Energy (Qamut license) have also handed back their exploration licenses whilst Maersk has postponed a decision on whether to drill.
No significant news in 2014.
Jun 2013: TGS will commence acquisition of a new multi-client 2D seismic program offshore the northeast. The project will take 4 seasons commencing in August 2014 with the first season available in Q1 2015.
Apr 2013: Cairn Energy continues to explore offshore Greenland, despite its unsuccessful campaign. Cairn has interests in licenses covering 11 offshore blocks with a combined area of 102,000 sq kms. The current focus is on the Pitu block, 100 kms off northwest Greenland in water depths of 400-800 m. A first well may be drilled in 2014. Cairn may also bid in the second East Greenland bid round later this year.
Mar 2013: The new government is cautious about awarding new permits. The opening of the country to foreign resource companies has aroused concern among its indigenous Inuit people. Government officials say the northeast offshore area could hold 31 bn bbls of oil and gas, while the west could hold 17 bn bbls (GS notes: drilling in the west in 2010 and 2011 failed to yield any discoveries).