Greenland Oil Drill Delayed Amid Regulatory Row
Greenland Energy Company's plans to drill for oil in East Greenland have hit a roadblock after project equipment was brought ashore without government approval. The company, working with partner 80 Mile Plc, had aimed to start drilling in late 2026 but will now delay its campaign until winter 2027.
The issue emerged when a barge carrying an excavator and containers arrived at Nerlerit Inaat in July without prior permission from the Greenland Ministry of Mineral Resources. The ministry issued a warning requiring future operations to receive approval, forcing the company to postpone its plans.
Greenland Energy had estimated that the Jameson Land Basin, where it is working, could hold as much as 13 billion barrels of recoverable oil. However, this estimate remains speculative and has not been confirmed by exploration wells. The company can earn up to a 70% interest in the project by funding two exploration wells.
CEO Robert Price said the company remains committed to the project and is complying with Greenland's regulatory process. He noted that Arctic operations require 'patience, flexibility and a long-term perspective.'