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The Minister of Industry, Energy and Tourism announces a second licensing round for hydrocarbon exploration in 2011

1.3.2010

Icelandic authorities are preparing a surface geochemistry survey of the Dreki Area. A second licensing round has been announced as from 1 August  2011 untill 1 December 2011.

The Minister of Industry, Energy and Tourism has announced that the second licensing round for exclusive hydrocarbon exploratioin and production in the Dreki Area will open on 1 August 2011, and the deadline for applications will be 1 December 2011.

During the last several months, the National Energy Authority of Iceland has been in contact with several of the companies that showed interest in the area during the first licensing round, but did not apply, as well as the companies that applied for licences for exploration and production of hydrocarbons, but later withdrew their applications. During interaction with these companies, several suggestions have been made that are helpful in the preparations for the next licensing round.

Icelandic authorities are preparing a surface geochemistry survey of the Dreki Area. The aim is to collect surface cores from selected locations in the summer of 2010. Analyses of the hydrocarbon content of the samples may be give indications of the presence and maturity of source rocks in the area. Such results can reduce uncertainty and thereby make the area more attractive for potential participants in the next round.