COPENHAGEN, Jan 7 (Reuters) - Maersk Oil, a unit of Denmark's A. P. Moller-Maersk, has postponed a decision on whether to drill for oil at a exploration licence off the coast of Greenland. Maersk Oil has as operator of the Baffin Bay, Block 9 exploration licence agreed with Greenland in late 2014 to extend the first sub-period of the license by two years, it said in an email … [Read more...]
WATCH – Largest Glacier Calving Ever Captured on Film
On May 28, 2008, Adam LeWinter and Director Jeff Orlowski filmed a historic breakup at the Ilulissat Glacier in Western Greenland. The calving event lasted for 75 minutes and the glacier retreated a full mile across a calving face three miles wide. The height of the ice is about 3,000 feet, 300-400 feet above water and the rest below water. Chasing Ice won the award for … [Read more...]
Incident Photos of The Week – Walking on Water in Greenland
The M/V Vega Sagittarius sits high above the water after running aground last week near Nuuk, Greenland. The 11,811 dwt vessel, which is chartered by Royal Arctic Line, was enroute to Aasiaat and carrying cargo destined for a number small communities in Greenland when she ran aground on the rocky bottom. No injuries or pollution have been reported however the vessel is said … [Read more...]
Icebergs Pose an Increasing Threat to Offshore Oil Exploration
(Bloomberg) -- Oil companies off Greenland's shores may be basing risk assessments on outdated information as icebergs splinter the island's coastline at an ever faster pace, scientists and environmentalists said. Last month, an iceberg twice the size of Manhattan broke off a glacier on north-western Greenland, and 97 percent of the island's surface ice melted. Companies … [Read more...]
Cairn Puts the Brakes on Arctic Drilling After Unsuccessful $600 Million Campaign in 2011
LONDON (Dow Jones)--Cairn Energy PLC (CNE.LN) Tuesday shrugged off the disappointment of a $1.19 billion full-year loss, insisting that there were sufficient "transformational" opportunities in its oil exploration and development portfolio to support future profitability, even though the Edinburgh-based firm doesn't plan to drill another Greenland well this year. "We do have … [Read more...]
2000 Miles from Nowhere… Statoil and Cairn Plan to Drill off Northwestern Greenland
Statoil has acquired a 30.625% working interest in the Pitu licence in Baffin Bay. The license was awarded to Cairn Energy during the first Baffin Bay licensing round in December 2010. Cairn will continue as operator and retains a 56.875% working interest while partner Nunaoil will retain its carried (pre-development) interest of 12.5%. The Pitu licence lies … [Read more...]