[A-List] Canadian oil imperialism: Kalaallit Nunaat [Greenland]

["Macdonald Stainsby" <mstainsby@xxxxxxxxx>]

Greenland´s 'home rule' government gives ocean oil-drilling rights to
Canadian EnCana and its own Nunaoil

http://www.cphpost.dk/get/85322.html

Canadian oil company EnCana Corporation and Nunaoil, the national oil
company of Greenland, were granted oil-drilling rights in Greenlandic
waters, Greenland´s National Radio (KNR) reported on Friday.

The companies will explore for oil 250 kilometers west of the capital Nuuk
in an ocean area of 2,897 square kilometers, which has never been drilled
before.

"It´s an interesting area with enormous structures and we already know
about some oil seepage in Western Greenland," EnCana´s Director John K.
Brannan said. "My estimation is that there are 5-10 percent changes of
finding oil, but it´s hard to tell at this point."

Brannan said the drilling was a high-risk financial venture and that more
companies would be invited to join EnCana if it found good indicators of
oil.

EnCana Corporation holds 87.5 percent of the drilling license and will
serve as operator, while Nunaoil has the other 12.5 percent.

Nunaoil is owned by Greenland?s Home Rule Government and Danish Oil and
Natural Gas (DONG).

The exploration agreement is the second for the Canadian company, which
won bids in 2002 for exploration of an area 80 kilometers Northeast of the
new area.

 http://www.cphpost.dk/get/85322.html



--
Macdonald Stainsby
http://lists.econ.utah.edu/mailman/listinfo/rad-green
In the contradiction lies the hope.
--Brecht.