About us

What is Iceland Petroleum? Founded in 2012, Iceland Petroleum (Ísl. Íslenskt Kolvetni ehf) is a private oil and gas E&P Company with an initial emphasis on the exploration of the Icelandic Continental Shelf. In partnership with Faroe Petroleum (Operator) and Norway’s State-owned oil company Petoro AS, the company has recently been awarded an Exploration & Production Licence in the Dreki area as part of the Icelandic 2nd Licensing Round.

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NE Dreki The Dreki area contains part of the Jan Mayen Microcontinent, a fragment of continental crust within the oceanic part of the western Eurasian Plate lying northeast of Iceland. Its sedimentary system remains completely untested but is conjugate to the continental shelf in the Norwegian Sea where several giant oil and gas fields have been found and developed, and to East Greenland, considered highly prospective as evidenced by...

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