Iceland’s Dreki Region May Show Promise

Dreki Area and Jan Mayen Agreement Area of Iceland

The Dreki Area is a potentially hydrocarbon rich region that lies within the maritime boundary of Iceland.  You can read more, in general, about Iceland and current oil and gas exploration here.

As of current, Iceland is not engaging in any actual offshore drilling.  The country is simply performing studies on the regions that are outlined on the map to the right.  New news may have the potential to change this, as the Arctic Portal has reported ‘surprising’ and ‘hopeful’ seismic study results from within the Dreki area.  Read the article here.

According to the report, the results have been taken from the Dreki section that is to a certain extent cooperated on by both Norway and Iceland (the Jan Mayan Agreement Area).  Bidding for exploration is most likely to be set for April, 2012.  The seismic study results will be released to the exploration operator, along with any additional findings from that area which will be revealed as we wait.   There is still much seismic data that has yet to be processed.  More information is to be made available by the current research firm in question in a month’s time.

This is exciting news for Iceland, as there has not yet been much headline in the way of new hydrocarbon discoveries since exploratory seismic operations have begun no so long ago.

One Response to Iceland’s Dreki Region May Show Promise

  1. Pingback: Oil Formations of Iceland’s Dreki Region Confirmed « Arctic Economics

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