Greenland Opens 2004 Offshore Licensing Round

The Greenland Bureau of Minerals and Petroleum is opening the West Greenland Licensing Round on April 1, 2004. Deadline for applications is October 1, 2004.

Opening meetings will be held on April 1 in the North Atlantic House in Copenhagen and on April 6th in the Adams Mark Hotel in Houston.

On July 1, 2003 the Government of Greenland closed four areas in West Greenland due to geological investigation on know Kimberlitic occurrences. The investigations have now ended and the first Open File Report on the exploration work is available from the Geological Survey of Denmark and Greenland (GEUS).

Areas designated for licensing are:
  • Area 1: Parts of Lady Franklin Basin
  • Area 2: Kangaamiut Basin & Ridge
  • Area 3: Parts of Ikermiut Fault Zone/Sisimiut
  • Area 4: Parts of Atammik & Fylla Structural Complexes

  • Licenses will be granted for a maximum of ten years with a right to a thirty year extension for areas where exploitation is intended. Nunaoil A/S will hold a 12.5% share of all licenses with a carried interest in the exploration phase.