Greenland

Oil & Gas

Statoil, GDF Suez and Dong Energy drop Greenland exploration

14/01/2015

A trio of energy companies have handed back exploration permits for drilling in Western Greenland amidst the fall in oil prices. It has emerged that Statoil, GDF Suez and Dong Energy have decided against exploring in the region. John Finborud, director of GDF Suez Greenland, said the current drop in prices and increase in production expense meant the costs were too high.

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