Iceland draws licence interest

摘要

Iceland has awarded the first exploration licences in the Dreki area between its northeast coast and Norway’s Jan Mayen island to Norwegian state-owned oil and gas holding company Petoro and UK independents Faroe Petroleum and Valiant Petroleum. Petoro is taking 25pc stakes in two licences under a 1981 UNbacked agreement on joint development of the area between the two coasts, following approval by Norway’s parliament. Faroe Petroleum will operate one of the licence areas with a 68pc stake, and Valiant will operate the other with 56pc.