Greenland Receives One Bid in Offshore Licensing Round

The Bureau of Minerals and Petroleum received one application from a major oil company for its 2002 exploration licensing round. The deadline for submitting applications was July 16th. The BMP said it will process the application and present it to the Joint Committee on Mineral Resources in Greenland. The Joint Committee will then submit their recommendation to the Greenland and the Danish governments, who will jointly decide on the granting of the license before the end of 2002. The licensing round is for acreage offshore West Greenland covering the area between latitudes 63N and 68N.