--> Abstract: Dreki Area - Jan Mayen Ridge. First Licensing round from the Icelandic Continental Shelf, by K. Einarsson and T. S. Arnarson; #90096 (2009)

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Dreki Area - Jan Mayen Ridge. First Licensing round from the Icelandic Continental Shelf

Kristinn Einarsson and Thorarinn S. Arnarson
Energy Resources, Orkustofnun, National Energy Authority, Reykjavik, Iceland.

The Jan Mayen Ridge is a sliver of a continental crust on the Atlantic Margin between E-Greenland and W-Norway, left behind during the opening of the North-Atlantic Ocean. The southern part of the ridge belongs to Iceland and the northern part to Norway. Following the Norwegian-Icelandic magnetic, gravity and 2D seismic surveys of 1979, 1985 and 1988 a governmental interpretation report on the hydrocarbon potential was prepared in 1989. Deep-water technology was not ripe and oil prices too low at that time to pursue further studies. Additional speculative 2D surveys were made in 2001 and 2008 in Icelandic waters, as well as a speculative re-interpretation of the governmental data. A 10,000 sq.km governmental multi-beam bottom survey was also made on the Icelandic side in 2008.
General conclusions on the hydrocarbon potential, based on proprietary as well as academic data: Sedimentary rocks of sufficient thickness and age are present in the area. There are indications of sedimentary strata pre-dating the opening of the Norwegian-Greenland Sea. Potential source rocks are similar to those existing in E-Greenland. Potential reservoir rocks are present and include submarine fans. Potential traps are present, both of the structural and stratigraphic types. Seismic anomalies with typical "bright spots" ,as well as characteristic surface pockmarks, indicate that hydrocarbons may be present at several locations.

Following a successful Strategic Environmental Assessment of the northern part of the Dreki Area (covering 42,700 sq.km, lat. 67°-68°30‘N, long. 6°20‘-11°30‘W), Icelandic authorities opened the first Exclusive Licensing Round on 22 January 2009. The round closed on 15 May 2009. Licenses are due to be awarded before the end of October 2009. A maximum of five licenses will be issued. The area of each license is limited to a maximum of 800 sq.km. An agreement with Norway on the northernmost 12,720 sq.km of the area stipulates that Norway may participate with 25% share in exlusive licenses within the treaty area.

Further information can be found on the web-site of the National Energy Authoriy of Iceland (www.nea.is) and on the Iceland Continental Shelf Portal (www.landgrunnsvefsja.is).


AAPG Search and Discover Article #90096©2009 AAPG 3-P Arctic Conference and Exhibition, Moscow, Russia