A milestone was reached in energy research in Iceland when three applications for hydrocarbon exploration and production licences in the Dreki area (between Iceland and Jan Mayen) were announced.
Iceland GeoSurvey has been the principal advisor to the Icelandic authorities regarding exploration of the continental shelf in connection with the search for hydrocarbons. Since 2008 Iceland GeoSurvey has assisted the National Energy Authority (NEA) in matters relating to petroleum exploration, and has attended to geotechnical problems and data base issues. NEA extensively advertised the licensing round and clarified concerns that arose by attending multiple conferences and by direct visits to petroleum exploration companies. Iceland GeoSurvey worked closely with the NEA during this time, providing supporting information regarding petroleum exploration and public relations, which included the establishment of good working relationship with the Norwegian Petroleum Directorate and the Norwegian Geological Survey with the aim of improving the understanding of the Jan Mayen Ridge area as a potential hydrocarbon province.
See further information at NEA website.