Iceland Off Shore Oil & Gas Prospecting
From Spanish. Mon.23.Feb.2009.
On rigzone.com over last Week Iceland has given Oil Companies Blocks to Drill offshore for Oil & Gas. There are a lot of Blocks, and provisional drilling in areas never drilled before up to Norway, are very promising. Norway & iceland agreed to share parts.of the North Sea never ever drilled before by Oil Giants
Would it not be good if they discover plenty of Oil&Gas, as it would solve our problems also in regards to oil & gas find..as it would save the Country and Banks, and Ksfiom. Check and follow up rigzone.com.
Any income from oil is at least 10 years out in the future
Being in the oil business myself I can safely say that any potential income from such a venture will be at least 10 years out in the future and depends on a significantly higher oil price than present as these type of deep water assets in icy waters are very expensive to develop and operate. There is no low hanging fruit left in oil exploration
Light relief or part of the plan
If I were a conspiracy theorist - which i'm not, then the les humorous side to this would be that this was one of the reasons the Icelandic economy was brought down by those erroneous statements last year. Not that it wasn't on the verge of collapse anyway.
Iceland's economy collapses - Iceland fast tracked into EU - EU secures oil supply (that might have been controlled by Russia otherwise). Could this be why the UK court papers were sealed?