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Nunaoil

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National oil company of Greenland
Nunaoil
Company typestate-owned
IndustryOil and gas
Founded1985
HeadquartersNuuk, Greenland
Key peopleHans Kristian Olsen (MD)
ProductsPetroleum
Natural gas
OwnerGovernment of Greenland
Websitewww.nunaoil.gl

Nunaoil is the national oil company of Greenland founded in 1985 as an equal partnership between the Greenland Home Rule Government and DONG Energy It is a non-paying partner in all licenses around Greenland. It handles oil exploration, while import of oil for local need is handled by Nukissiorfiit.

During the 1990s the company was primarily involved in collecting seismic data as operator of a group of international oil companies in the regions of North East and West Greenland. It then switched its focus to gathering seismic data along the South West coast of Greenland, mapping large potential hydrocarbon trapping accumulations. As of 2000 Nunaoil has stopped acquiring seismic data as there has been sufficient interest by the seismic industry as a whole in undertaking this task.

It has also been involved in the licensing rounds off the west coast of Greenland by Baffin Bay where it holds a minimum of 8.5% stake in all the blocks that have been licensed in the recent West Disko round.

In 2006 DONG Energy sold its shares in Nunaoil to the Danish State. According to the Act on Greenland Self-Government which came in force on 21 June 2009, the Danish State transferred its stake to the Government of Greenland.

Nunaoil has been ranked no. 66 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle.

See also

References

  1. "MINEX news" (PDF). GEUS. 1992.
  2. "Annual Report 2006" (PDF). Nunaoil. Retrieved 2007-12-16.
  3. "Annual Report 2006" (PDF). DONG Energy. Archived from the original (PDF) on 2007-11-08. Retrieved 2010-10-23.
  4. "The Greenland Self-Government Arrangement". The Prime Minister's Office. Retrieved 2010-12-31.
  5. Overland, I., Bourmistrov, A., Dale, B., Irlbacher‐Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. Business Strategy and the Environment. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698

External links

Companies of Greenland
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