Faroe Petroleum has been granted the licences to explore the Jan Mayen Ridge area off Iceland’s northeast coast.
The company already has exploration projects in the Norwegian Sea, the Norwegian Barents Sea and the Shetland Islands.
“As with our Norwegian Barents Sea licences, this new Icelandic Jan Mayen Ridge licence has significant hydrocarbon potential, and is located in ice-free waters,” said Graham Stewart, Chief Executive of Faroe Petroleum, in a news release on December 4. “We look forward to working with the Icelandic Government and our partners, in progressing these important opportunities.”
Write to Eilís Quinn at eilis.quinn(at)cbc.ca