Greenland licence relinquished

January 23, 2002, 08:45 CET

An exploration licence in the Fylla area off Greenland has been relinquished by Statoil to the authorities in the North Atlantic island.

No oil or gas was found by a wildcat drilled in the summer of 2000 on this acreage, which lies 150 kilometres west of Nuuk, the Greenland capital.

The results of the well prompted Statoil and the other licensees to notify the authorities that they did not wish to pursue further exploration in the licence.

According to Greenland's Bureau of Minerals and Petroleum, the Phillips-operated Sisimiut licence further north has also been relinquished. Statoil was a partner in that acreage as well.

The relinquishment of the two licences means that the group is no longer involved in exploration for oil and gas off Greenland.