Oil and Gas Exploration
The National Energy Authority grants licenses for prospecting, exploration and production of hydrocarbons. Applications for non-exclusive, prospecting licenses are accepted at any time, whereas applications for exclusive, exploration and production licenses are normally accepted in license rounds.
Exploration for oil and gas on the Icelandic Continental Shelf is in an early phase. However, there is a considerable amount of geophysical data available, including academic, governmental, and industry datasets.