Published:
Potential Oil Fields Being Opened for Exploratory Drilling in the Atlantic Northeast of Iceland
Following the decision of the Icelandic
government to start tendering exclusive licences in January 2009 for oil
exploration in the Dreki area (in the Atlantic, northeast of Iceland on the
Jan Mayen Ridge, between Iceland and Jan Mayen Island), an international
conference has been announced in Reykjavik on 4-5 September. The Icelandic
National Energy Authority and the Ministry of Industry have organized the
conference, which is entitled Iceland Exploration Conference 2008:
http://hugin.info/139673/R/1246919/269853.pdf.
The speakers at the conference are specialists from the Nordic countries
with extensive experience in geological research and oil exploration in the
North Atlantic. The conference is intended for geologists, exploration
experts and new development managers at oil exploration and oil companies.
Seismic surveys and other geophysical measurements indicate that producible
quantities of oil and gas could be found in the Dreki Area as they have
been in adjacent and geologically similar areas. Recent strides in drilling
and production technology along with other nations' experience with oil and
gas production at great ocean depths and in northerly regions have made
searching for these resources in the area possible. Further research,
including exploratory drilling, is necessary to verify whether oil and gas
exist in the area. The Government's decision is based on the findings of a
detailed strategic environmental assessment report on the matter.
"We have high expectations of finding oil in the Dreki area since
scientific research has indicated that valuable oil resources may be found
there," said Minister of Industry Össur Skarphédinsson. "We therefore urge
all parties interested in new oil fields in northern areas to attend the
conference in Reykjavik."
r. Kristinn Einarsson, Project Coordinator at Icelandic National Energy
Authority, says: "At the conference we will go through geological data on
the area as well as inform on taxation and financial conditions."
International companies have already shown keen interest in explorations in
the Dreki Area.
The Iceland Exploration Conference will be held at the Hilton Nordica Hotel
in central Reykjavik. Participants from several countries have already
registered. All conference information is available on www.nea.is
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,Energy and Utilities:AlternativeEnergy, EnergyandUtilities:Coal, EnergyandUtilities:Equipment, EnergyandUtilities:Nuclear, EnergyandUtilities:OilandGas, EnergyandUtilities:Pipelines, EnergyandUtilities:Utilities, ,GA,REYKJAVIK, ICELAND
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