Iceland State Oil Association to be Established Shortly Skip to content

Iceland State Oil Association to be Established Shortly

Preparation on the establishment of a state oil association in Iceland is close to completion. Prime Minister Sigmundur Davíð Gunnlaugsson met with the Norwegian Minister of Petroleum and Energy in Iceland earlier this week.

oil_drilling_ship_wikiPhoto: Wikipedia.

“We used the opportunity to meet and discuss Iceland’s and Norway’s relations in the Arctic and not least because of the potential for oil and gas production. The Norwegian Petroleum minister is very interested in the collaboration between Iceland and Norway in this area,” Sigmundur told ruv.is.

According to Sigmundur, the priority will be to continue the search for oil in Icelandic waters but if oil is not found, it is expected that the association will be able to assist in the search for oil in neighboring areas, for example, the Faroe Islands and Greenland.

Related:

06.06.2013 | Chinese Oil Company to Apply for Iceland Oil License

22.05.2013 | Highlights of Iceland’s New Government Agreement

ZR

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