Research and consulting services to create incentives for further investments in oil exploration in Greenland.
Over a long transitional period, oil and gas will be of crucial global significance for continued economic growth and security of energy supply, while the proportion of energy from renewable sources is increasing and becoming cost-effective.
GEUS’ activities in brief
GEUS is the key advisor for the authorities in Greenland. Furthermore, GEUS is working closely with the oil industry on research and consultancy that can provide an incentive for further investments in exploration.
GEUS collects, interprets and compiles sedimentological, stratigraphical, geochemical and geophysical data to establish geological models generating the required knowledge and encourage industry to invest in exploration.
In connection with licensing rounds in Greenland, GEUS has served as the key advisor for the Government of Greenland's Ministry of Industry and Mineral Resources. This work includes developing exploration strategies, as well as developing and marketing exploration models for Greenland.
Recent years have seen growing interest from the oil industry in the high-Arctic areas, and GEUS has assisted the USGS – U.S. Geological Survey in assessing the high-Arctic oil resources in Greenland in connection with the American assessments of the entire Arctic area.
Most recently, GEUS has launched a long-term programme in North-East Greenland to examine the area's geology and oil potential. This work, which is partially sponsored by the industry, is examining and compiling geological data from onshore to describe the analogous geological conditions on the seabed off the coast.
Oil in Greenland
In the 1970s, the oil industry explored for oil in the seabed in several places off Greenland's west coast, but found no oil. During the 1980s, GEUS provided new knowledge about the geological conditions and worked intensively to market Greenland's oil potential to industry. Today, several companies are exploring for oil in Greenland.