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Hydrocarbon applications

The Greenland Government has adopted a new oil and gas strategy for 2020 - 2024.

The main focus of the strategy is to promote oil and gas exploration in Greenland.


The strategy is based on the following tracks:
  • Opening of new license areas (both onshore and offshore), cf. the table below.
  • Implementation of geological and geophysical measures as an integral part of licensing policy.
  • Active marketing efforts towards the oil industry.
  • Adaptation of competetive framework conditions, including reduced taxes under a new 'first-mover' scheme to apply during the strategy period.

Table 1 Plan for opening of license areas

Region

Opens

Onshore Nuussuaq basin / Disko West      

February 2020  

Davis Strait

September 2020     

Baffin Bay

September 2020

Offshore Nuussuaq basin / Disko West

September 2020

North East Greenland (offshore)                 

July 2021

Central East Greenland (offshore)

January 2022