Orkustofnun has granted three licences for exploration and production of hydrocarbons in the Dreki Area. One of the licences was relinquished in January 2015 and the second licence was relinquished in January 2017

Active licences

Licence no. 2014/01

CNOOC Iceland ehf (operator). 60%

Eykon Energy ehf. 15%

Petoro Iceland AS. 25%

Relinquished licences

Licence no. 2013/02

Ithaca Petroleum ehf. [previously Valiant Petroleum ehf.] (operator). 56,25 %

Kolvetni ehf. 18,75 %

Petoro Iceland AS. 25 %

Licence no. 2013/01

Faroe Petroleum Norge AS (operator). 67,5%

Iceland Petroleum. 7,5%

Petoro Iceland. 25%