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Statoil relinquishes part of Fylla license off Greenland

Norwegian company Statoil AS has relinquished part of License 03/97 off Greenland, said the Greenland Bureau of Minerals and Petroleum. Statoil operates the license with 38.25%. Phillips Petroleum Greenland AS has 38.25%, Greenland state company Nunaoil 15%, and Dansk Olie og Naturgas AS affiliate DONG Gronland 8.5%. Statoil has relinquished the 2,645 sq km eastern subarea of the Fylla license, near Fyllas Banke in West Greenland. Qulleq-1 well, drilled in that area last summer, was a dry hole. The well was the first drilled off western Greenland in almost 25 years. Though no hydrocarbons were found, the well demonstrated "the presence of sandstone units of Late Cretaceous age" (OGJ, Jan. 1, 2001, p. 27). Statoil does, however, want to extend the first subperiod regarding the western subarea of the license until Dec. 31. The company and the Bureau of Minerals and Petroleum are discussing the further development of the license.