‘You just move forward’: Greenland Energy oil exploration delayed by a year
CALGARY — A drilling rig was being retooled in Alberta. Trucks and cranes were set to ship from Denmark. More equipment was due from Houston.
In Calgary, a drilling rig in Alberta was being reconfigured, while trucks and cranes awaited shipment from Denmark, Houston, and Quebec for oil exploration in Greenland’s Jameson Land Basin. Greenland Energy Co., the company behind the project, announced in August that authorities required more time to review plans for drilling the first oil wells in the barren tundra.
As a result, equipment was put into storage, and plans were set aside for a year until 2027. Greenland Energy’s CEO, Robert Price, emphasized that the delay was not insurmountable and that the company was committed to Greenland’s long-term exploration. The company’s documentary series, hosted by Dr. Phil, and hosted by Phil McGraw, was also on hold.
The area targeted for exploration is covered by pre-existing licenses held by 80 Mile PLC, which obtained them before the 2021 ban on new oil and gas exploration in Greenland. The permits are valid until the end of 2028 and could be extended. Initial assurances from the Greenland government indicated that drilling would commence before the year’s end, but the regulator later demanded more time for review, leading to the delay.
Greenland Energy will not incur significant financial losses due to the delay, as storage and maintenance costs are minimal. The company and its partner, 80 Mile PLC, complied with regulations but faced a transport issue when equipment was moved without proper approval. Both companies confirmed they are in strict compliance with all applicable laws and regulations, and Greenland Energy’s operations will continue in other areas of the territory.
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