Iceland Awards Two Production Licences in Dreki Area

Iceland’s Orkustofnun has on January 4, in the presence of the Norwegian Minister of Petroleum and Energy, Ola Borten Moe, and Minister of Industries and Innovation, Steingrímur J. Sigfússon, issued two licences for exploration and production of hydrocarbons in the Dreki Area.

Orkustofnun granted licences to Faroe Petroleum Norge AS, Branch in Iceland, Íslenskt Kolvetni ehf. (Iceland Petroleum), and Petoro Iceland on the one hand, and Valiant Petroleum ehf., Kolvetni ehf., and Petoro Iceland on the other.

The Norwegian Parliament approved the decision on the participation by the Kingdom of Norway through the State-owned oil company Petoro AS in accordance with the agreement between Norway and Iceland from 1981.

One license is granted to Faroe Petroleum Norge AS as an operator with 67,5% share, Iceland Petroleum with 7,5% share and Petoro Iceland with 25% share.

The other license is granted to Valiant Petroleum ehf. as an operator with 56,25 % share, Kolvetni ehf. with 18,75 % share og Petoro Iceland AS with 25 % share.

The licences are issued with reference to Act No. 13/2001 on prospecting, exploration and production of hydrocarbons, with later amendments, Regulation No. 884/2011, and information in the licence applications and other information from the applicants.

 

Press Release, January 08, 2013

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply