Maersk Oil opens a new frontier in Greenland

Maersk Oil announced on Friday that it had been awarded a license covering Block 9 in Baffin Bay, offshore West Greenland, opening up a new frontier for our exploration business.

The news marks a culmination of several years of keen interest, work and talks with the Greenland authorities. Maersk Oil now has 11,802 sq km – about one fourth of the size of Denmark – to explore together with Nunaoil, Greenland’s national oil company that will have a 12.5% interest.

Now the tough work begins. Ensuring a safe and environmentally responsible operation is an absolute priority in this sensitive environment. Any drilling activity will not start for another 3-5 years and will commence only after all environmental aspects of the operation have been fully assessed and addressed.

“We are pleased to have been granted the exploration rights for Block 9. We are confident that we can use our strong technical skills and pioneer mindset to turn the exploration work into a commercial success,” said Lars Nydahl Jørgensen, Head of Exploration at Maersk Oil.

“Our top priority is a strong safety and environmental performance and we will cooperate closely with the Greenland authorities and independent experts in implementing these objectives,” Lars Nydahl said. “We will start our drilling campaign only if we are sure we can do it without putting both the environment and our people at risk.”

Strong safety and environmental performance is an absolute priority for Maersk Oil when operating in the sensitive environment offshore West Greenland.

Learn more

On Maerskoil.com you can learn more about the field research facility, learn about Greenland’s potential and watch a video where Lars Nydahl Jørgensen explains more about the new license. Click here to visit the site.

“I greatly appreciate the intense work over recent months of our small dedicated team and the support that was lent to them by the wider organisation,” Lars Nydahl said.

The team will immediately begin work on plans to establish a field research facility in the Baffin Bay area, to be made available for use to the authorities, the industry and the scientific community at large. In this way, Maersk Oil hopes the facility will be of benefit to Greenland and the environment as a whole.

Maersk Oil now plans to acquire, process and interpret quality seismic data. If exploration activities lead to the discovery of commercially viable field development, oil production could commence in 10-15 years from today.

More information could be found here!

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