WATCHING THE WORLD: Prospects rise in Greenland

07/24/2006
Market forces have everything to do with getting more oil out of the ground and getting it out more safely. Just consider what’s happening in Greenland these days.Last week, Greenland drew strong interest from international oil companies for the island’s fourth round of concessions, west of Disko Bay, which covers a 92,000 sq km area north of the Arctic Circle.“We know that we have oil. We hope we have it in profitable amounts,” Greenland’s Oil Minister Joergen Waever Johansen said July 18 at the start of a 3-day meeting with oil companies in Ilulissat, on Greenland’s west coast.“Results from numerous investigations into the potential in the regio...
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