An exploration or exploitation licence will usually place an obligation on the licensee to make very substantial investments prior to the commencement of any commercial activities. Some of the dimensions that seem to determine much of the actual development are often lost in this dichotomy, to the dismay of those in favor of an informed debate. Greenland to halt approving new oil and mineral exploration licenses – Draft-bill out. Pinterest. However, during the past years, several of the major players have surrendered some or all of their licences.4 So far, the exploration activities have not led to any exploitation (production) activities. Therefore, an important strategic goal is to encourage interest from the industry in investing in oil exploration in Greenland. The book provides the reader with modern petroleum exploration and well testing interpretation methods, including their basic theory and graph analysis. Tullow receives judgment in its favour following appeal by Heritage . Questions? Digital Reporter, Environmental Scientist. Found inside – Page 301As of summer 2012, only one company is operating a productive gold mine in southern Greenland.44 As for oil and gas exploration, a Scottish company. 41 Worm, Adam, “Arctic Security: A Greenlandic Perspective,” in Arctic Security in an ... Responding to Oil Spills in the U.S. Arctic Marine Environment reviews the current state of the science regarding oil spill response and environmental assessment in the Arctic region north of the Bering Strait, with emphasis on the ... Become your target audience’s go-to resource for today’s hottest topics. Large deposits are also expected to … The left-leaning government of Greenland has decided to suspend all oil exploration off the world’s largest island, calling it is “a natural step” because the Arctic government “takes the climate crisis seriously.” Greenland government puts an end to new oil and gas exploration. In addition, this book provides a go-to glossary for quick reference. I also share the information from the articles with my colleagues. The Greenlandic self-government has therefore acted as one of the key drivers of the development, while also managing the licensing rounds. The U.S. … Balancing the interests of the private sector with the local population, while maintaining development pace and acquiring the sufficient regulatory skills needed, will be essential for successful Greenlandic offshore development. Pipelines snake through the Greater Prudhoe Bay unit on Alaska’s North Slope. In general, licences for hydrocarbons are granted by the government.12. Particular importance is attached to the technical capabilities of any potential licensee for exploration or exploitation licences. Eco Atlantic Oil and Gas Ltd (AIM:ECO) chief operating officer Colin Kinley says the team is “very focussed” on selecting the next well target … Now in its 5th edition, this well-respected work provides a comprehensive analysis of the EC merger control regime. Review your content's performance and reach. In 2008, another referendum regarding Greenland's autonomy was held. The Arctic Institute’s research and capacity building projects help make the Arctic a more secure, just, and sustainable place. terms on the fees and charges payable to the Greenland self-government during the licence period; that a company fully owned by the Greenland self-government is entitled to join in the licence on specified terms; that the licensee to a certain extent may be required to employ local labour (see below); that the licensee may be obligated to process exploited minerals in Greenland; and. In addition, Greenland has offered separate open-door procedures in the Jameson Land and south-west Greenland areas. Considering these circumstances, on 31 January 2020, the government of Greenland launched an oil strategy for the period 2020–2024. Licences for exploitation are normally granted for a period of 30 years. Tags: Greenland offshore operations oil and gas industry sm. Multiple leaders of Christian organizations in Norway don’t think oil exploration is a matter of faith. The island isn’t banning all mineral exploration. There should be no expectation that oil and gas exploration and production will take off any time soon in Greenland; oil and gas production is, at best, 15-20 years away. Call for Papers for Series on Arctic Colonialism, Call for Papers on Infrastructure in the Arctic, Call for Papers: New Polar STEAM Magazine Polynya, The Cold, Cold War: Rear Admiral Richard Byrd, Antarctic Expeditions, and the Evolution of America’s Strategic Interest in the Polar Regions, Oops, they did it again: The European Union’s 2021 Arctic Policy Update, TAI Bookshelf Podcast – Making and Unmaking Reindeer with Corinna Röver, Finland, Japan, South Korea, and Sweden: A Middle Power Partnership for Enhanced Maritime Capacity in the Arctic, Victoria Herrmann named White House Fellow. Greenland has dropped all its plans for oil and gas exploration because of the climate emergency, saying the price of extraction was too high. Greenland's government is opening up three new offshore areas for exploration. Declaring Greenland “back on the oil track,” the Danish territory’s government reported Wednesday that it is opening up three new offshore areas for exploration. The Greenland Mineral Resources Portal is an entry point to all available geological information about mineral resources in Greenland. Against this background, Naalakkersuisut has decided to cease issuing new licenses for oil and gas exploration in Greenland. Additionally, licensing rounds have been conducted for the Disko-Nuussuaq area (2016), Baffin Bay (2017) and Davis Strait (2018). Given Greenland’s special status as a part of the Danish Realm, with a high degree of self-governance and a majority Inuit population, oil and gas drilling there has engaged actors with a wide range of interests. By Andreas Østhagen The move came just a year and a half after the government adopted a new oil and gas strategy with a focus on promoting exploration in the island. As the output of Danish reserves falters, oil extraction in the formerly-hidden Northern regions of Greenland has expanded into a promising sector of the oil and natural gas market. In general, the terms of an exploration licence will set out the obligations on the licensee to explore the area as well as obligations in respect of areas that must be relinquished during the term of the licence. JP Casey asks why Greenland has announced plans to stop awarding new oil exploration licences for its waters, despite its considerable mineral potential. Greenland, the world's largest island, is one of the areas in the world where oil and gas resources have been least explored in spite of the fact that Greenland has considerable potential hydrocarbon resources. Subscribe. The general authority for hydrocarbons is the Ministry of Mineral Resources (MMR), including the responsibility for strategy, policymaking and social impact assessments (SIAs). The aim of the Act, and as such the responsibility of the government and of the established authorities, is to ensure that performance of activities required under the Act is carried out in accordance with acknowledged best international practices under similar conditions. Covering the major issues facing the oil and gas industry in the exploration and production stages, this groundbreaking work reveals how to model big data to realize efficiencies and business benefits in the oil and gas exploration and ... The decision was made June 24 but made public Thursday. Greenland has dropped all its plans for oil and gas exploration because of the climate emergency, saying the price of extraction was too high.. Environmental group Greenpeace hailed the decision as “fantastic”, saying there was “no time to lose”.. By Morten Buttler on 7/16/2021. It is a story I look forward to sharing with the tourism sector and include when I represent Greenland internationally . July 18, 2021 News. Greenland has suspended oil exploration and will not issue any more licences for oil and gas exploration despite the island’s touted hydrocarbon potential. A general introduction to oil and gas law in Greenland. The day-to-day aspects of the industry as well as licence applications are handled by the Mineral Licence and Safety Authority (MLSA). The government of Greenland has suspended all oil exploration off the world’s largest island, calling it is “a natural step” because it “takes the climate crisis seriously”. The US Geological Survey estimates there could be 17.5 billion undiscovered barrels … More recently, in December 2020, Denmark ended new oil and gas exploration in the Danish North Sea as part of a plan to phase out fossil fuel extraction by 2050 with the caveat that the decision does not cover waters off the autonomous territories – Greenland and the Faroese Islands – that belong to the Kingdom of Denmark and likely to progress with the continuation of … The US Geological Survey has estimated that the Greenland shelf may contain as much as 17.5 billion barrels of oil and 148 trillion cubic feet of natural gas. Drilling commenced in 1976 and 1977, with a total of five wells deemed dry. While development of oil and gas in Greenland has historically focused on offshore areas west of Greenland, the Bureau of Minerals and Petroleum of the Government of Greenland awarded the first oil and gas exploration and exploitation licenses for eastern Greenland on 20 December, 2013. “Naalakkersuisut has … The Greenlandic government, Naalakkersuisut, has decided to stop oil and gas exploration on the island for climate reasons. Greenland’s west coast alone is estimated to contain about 18 billion barrels of oil, according to a recent study from the Geological Survey of Denmark and Greenland. This book shows you how these new tools and methodologies can enhance geophysical and petrophysical data analysis, increasing the value of your exploration data. The island’s socialist-led government, in office since April, has made climate concerns central to its legislative program. Oil barrels are seen in this July 17, 2007 file photo in Kulusuk, Greenland near the arctic circle as Denmark raced to claim the potentially vast oil and other resources of the North Pole region. Enterprises operating in the oil and gas industry are subject to CIT rates ranging from 32% to 50%, depending on the location and specific project conditions. In contrast to other parts of the Arctic, Greenland has not had extensive experience with oil and gas production. The Act transfers the former joint Greenlandic and Danish responsibility for the natural resources in Greenland to the sole responsibility of Greenland. The Greenlandic underground is rich in both oil resources and minerals, and the history of exploration and exploitation activities goes back many years and has a global reach. These themes parallel those covered in the Institute's annual Training Program at Dalhousie University in Canada. The essay collection is aimed at professionals, students and citizens alike. The decision cuts off potential investments that could have aided efforts to gain economic independence from Denmark. Oil & Gas Projects; Registered Office 6th Floor 60 Gracechurch Street London EC3V 0HR +44 (0)20 3950 0725. info@albamineralresources.com. The authorities will no longer issue licenses for exploratory oil and gas drilling in the sizeable unused oil fields under Greenland.