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Tuesday, 02 December, 2008, 21:20 GMT | more >>

PA eyes Greenland waters



By Upstream staff 

Sweden’s PA Resources has applied for an exploration licence at Block 8 of the Disko-Nuussuaq region as part of the second phase of the Disko West licensing round, offshore West Greenland.

Greenland's Bureau of Minerals and Petroleum (BMP) has started processing the application and the work is expected to be finalised within the next three to five months, PA said.

The company said the application is part of its objective to focus its exploration activities into less mature areas with higher risk and substantially higher reward.

Recent evaluation of seismic data in the Disko-Nuussuaq area has indicated the presence of deep basins with some giant structures which is considered promising with regard to generation, migration and trapping of hydrocarbons, PA added.

"Greenland remains one of the last large areas in the world still to be explored for oil and gas, and the Disko-Nuussuaq region has become increasingly interesting from a geological perspective with every bit of new data gathered in the region,” PA’s chief executive Ulrik Jansson said.


Tuesday, 09 October, 2007, 07:32 GMT  | last updated: Tuesday, 09 October, 2007, 07:56 GMT

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