The Norwegian Petroleum Directorate (NPD) and the University of Bergen presented important new research results in the Dreki Area at the 30th Nordic Geological Winter Meeting in Reykjavík.
Data was acquired from both the Icelandic and Norwegian sides of the ridge, located offshore the north-eastern coast of Iceland.
The Dreki Area is a part of the Jan Mayen Ridge micro-continent, which was separated from the continental shelf of Greenland and Norway by plate tectonic movements 45-60 million years ago. The oldest samples collected from the seabed at Jan Mayen are 260 million years old.
“It is pleasantly surprising to find such old sedimentary rocks in the area and positive for the current Icelandic licensing round. The impact of volcanic rocks in the area is less than previously thought, volcanic rocks generally do not have a potential for oil and gas.” said the National Energy Authority of Iceland on its website.
Good quality sandstone was discovered which can function as a reservoir rock. In addition, rocks the same age as source rocks on Greenland were discovered.
”This means that we have rocks that could contain material which forms oil and gas. Two important preconditions for possible petroleum deposits are thus in place,” says Sissel Eriksen, exploration director in the NPD.
Offshore Energy Today Staff, January 31, 2012; Image: NPD