Oil and gas exploration in Iceland
Preparations for the first oil and gas licencing round in Icelandic waters
The Ministry of Industry and Commerce is conducting a Strategic Environmental Assessment (SEA) for a draft plan to offer exclusive exploration and production licences for oil and gas on the Dreki area (Dragon area) on the Jan Mayen ridge, northeast of Iceland.
A report with a proposal for a plan to issue exclusive exploration and production licences and a draft Environmental Report of the proposed plan was published at the end of March 2007 and is now in public consultation for a 8-week period, ending on the 23 May 2007.
The report, which includes the Environmental Report of the assessment of the proposed plan and its potential environmental implications, is available in Icelandic on this website. English summary of the main conclusions of the report can be found below, as well as extended summary of some of the technical reports and supporting documents that have been prepared.
- Press release on the report
- Maps showing the Dreki area and possible oil and gas resources
The report
Non-technical summary
1. Introduction, scoping and consultation
2. The draft plan and areas covered, activities involved and timetables.
3. About the SEA
4. Legal framework and administration
5. Economic implications (not available in English)
6. Health, safety and environmental issues (not available in English)
7. Geology of the Dreki area and possible oil and gas resources
8. Climate and oceanographic conditions on the Dreki area
8.1. Sea temperature, wave heights and ocean currents
9. Biological resources on the Dreki area
9.1. Marine biota and exploited fish stocks
10. Other activities in the Dreki area
11. Potential environmental implications of the proposed plan
12. Conclusions
Next steps
The report and supporting documents are available for review and public comment for a period of 8 weeks from the date of publication in March 2007. The documents are available from the Ministry’s website (www.ivr.is) and printed copies are also available.
Comments and feedback should be marked “Oil Exploration on the Dreki Area - Consultation” and can be sent by letter or e-mail addressed to:
Ministry of Industry and Commerce
Arnarhvoli
IS-105 Reykjavik
e-mail: postur@ivr.stjr.is
The Ministry will consider comments received from the public consultation in its decision making regarding the draft plan. A Post Consultation Report will be prepared and placed on this website with the comments and the Ministry’s responses to them.
Supporting documents and background information:
- Supporting documents ( in Icelandic)
- Preparations for awarding licenses for exploration and production of hydrocarbons in Icelandic waters. Basic premises, possible development paths and scenarios. Report prepared for the Ministry of Industry and Commerce in 2006 by the Norwegian oil & gas exploration and production consultancy group Sagex AS.
- List of data (seismic datasets) on the Icelandic continental shelf (from the website of the National Energy Authority).
- Information on the legal framework for oil and gas exploration and production in Iceland (from the website of the National Energy Authority).
- Act no. 13/2001, on prospecting, exploration and production of hydrocarbons, as amended by Act no 49/2007.
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Agreement between Iceland and Norway on the continental shelf in the area between Iceland and Jan Mayen, 22 October 1981 (unofficial translation).
- Key documents describing the Icelandic framework for hydrocarbon activities (from the website of the National Energy Authority).