NunaOil reports a profitable 2008
OFFSHORE: Financial reports have confirmed that 2008 was a good year for oil company NunaOil. The profits of 1.1 million kroner are above projected results, and are in no small part due to unusually good sales of seismic data to foreign oil companies.
However, until a commercially viable discovery of oil or gas is found and put into production, NunaOil expects this year's profits will be an exception.
The company has been influenced in 2008 by an increased interest from oil companies to take part in the exploration of new hydrocarbon deposits in Greenland. In the sea off western Greenland there have been seven new licences issued for exploration of hydrocarbons.
NunaOil A/S, a joint venture between the government and Denmark's Dong Energy, is actively taking part in thirteen exploration licences, covering an area stretching from Cape Farewell in the south to Svartenhuk in the north, a distance of of 1,500km.
NunaOil has invested in collecting extensive new data in 2008 from Melville Bay and in the sea off northern Greenland. The information collected concerned both seismic and aeromagnetic data. The purpose behind the collection of data is to prepare the areas for future supply rounds.
The positive result of the past year's tenders mean a change to NunaOil's prioritising of work tasks, such as putting more emphasis on working together with oil companies in concessionary companies.
To facilitate this NunaOil has employed two new oil geologists in 2008, bringing the total number of employees in their Nuuk office to seven.
Kilde: sermitsiaq.gl
