Licensing Round 2006 Phase 1
The Minister of Housing, Infrastructure and Minerals and Petroleum Jørgen Wæver Johansen opened on July 18th 2006 a licensing round for areas offshore West Greenland between 67°N and 71°N.
In 2005 the Bureau of Minerals and Petroleum in cooperation with Nunaoil A/S and the seismic company TGS Nopec acquired more than 3,200 km of new seismic data offshore the Disko-Nuussuaq Region. The new data have confirmed and strengthened the presumption that very large oil deposits are present in the area.
Analyses of oil seeps onshore Disko-Nuussuaq have also been carried out. The results are very promising and point to the existence of one or more so-called source rocks, the rocks in which oil originates, in the offshore area west of Disko-Nuussuaq.
A number of oil companies have bought the new seismic data, hereby stressing the serious interest given by a number of the largest oil companies in the world.
The application procedure, including requirements is described in the Letter of Invitation below (see also Model License and Model Joint Operating Agreement).