CNOOC gets Jan Mayen license in the end

Chinese oil major CNOOC has finally got an E&P license (expected already last October) in the Dreki area, the Icelandic sector of the waters south of the Norwegian island of Jan Mayen. CNOOC, through an Icelandic subsidiary, is to be the operator of the license, and to control a 60% share of it. They’re partnering with Norway’s state-owned Petoro AS, with a 25% share, and Eykon Energy, a local company.

I wrote about Dreki oil in some length in September (today’s announcement was ‘imminent’ back then), and more briefly in some recent updates.

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