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Greenland in transition

Extracts from an article by Nick Snow published 14 April 2014 by Oil & Gas Journal

Greenland expects its oil, gas, and minerals to be crucial as it continues its gradual transition to independence, its first US representative said on Apr. 3. “We have begun developing our oil and gas,” noted Inuuteq Holm Olsen, who began a 5-year assignment at the Danish Embassy in Washington 2 months ago. The US Geological Survey estimates there are billions of barrels of oil equivalent offshore Greenland, although there have been no commercial finds… ExxonMobil Corp., Royal Dutch Shell PLC, Chevron Corp., BP PLC, and other multinationals have been partners in consortiums buying offshore licenses there.

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