Nunaoil was a

national oil company A national oil company (NOC) is a petroleum company that is fully or partly owned by the government of a sovereign nation. NOCs produce about half the world’s oil and gas. Due to their increasing dominance over global reserves, the importance ...

Greenland Greenland is an autonomous territory in the Danish Realm, Kingdom of Denmark. It is by far the largest geographically of three constituent parts of the kingdom; the other two are metropolitan Denmark and the Faroe Islands. Citizens of Greenlan ...

founded in 1985 as an equal partnership between the Greenland Home Rule Government and

DONG Energy Dong or DONG may refer to: Places * Dong Lake, or East Lake, a lake in China * Dong, Arunachal Pradesh, a village in India * Dong (administrative division) (동 or 洞), a neighborhood division in Korea Person names Surnames * Dǒng (surna ...

It is a non-paying partner in all

license A license (American English) or licence (Commonwealth English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit). A license is granted by a party (licensor) to another part ...

s around Greenland. It handled oil exploration, while import of oil for local need is handled by Nukissiorfiit. Due to the decision of Greenland's Government in December 2022, Nunaoil has been reconstructed and renamed to NunaGreen in an effort to cease oil exploration and focus to renewable energy. During the 1990s the company was primarily involved in collecting seismic data as operator of a group of international oil companies in the regions of North East and West Greenland. It then switched its focus to gathering seismic data along the South West coast of Greenland, mapping large potential hydrocarbon trapping accumulations. As of 2000 Nunaoil has stopped acquiring seismic data as there has been sufficient interest by the seismic industry as a whole in undertaking this task. It has also been involved in the licensing rounds off the west coast of Greenland by

Baffin Bay Baffin Bay (Inuktitut: ''Saknirutiak Imanga''; ; ; ), located between Baffin Island and the west coast of Greenland, is defined by the International Hydrographic Organization as a marginal sea of the Arctic Ocean. It is sometimes considered a s ...

where it holds a minimum of 8.5% stake in all the blocks that have been licensed in the recent West Disko round. In 2006 DONG Energy sold its shares in Nunaoil to the Danish State. According to the Act on Greenland Self-Government which came in force on 21 June 2009, the Danish State transferred its stake to the Government of Greenland. Nunaoil has been ranked no. 66 in the

Arctic Environmental Responsibility Index The Arctic Environmental Responsibility Index (AERI) is a ranking of environmental responsibility based on a survey among 173 members of the ''International Panel on Arctic Environmental Responsibility'' (IPAER), whose input is processed using segme ...

(AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle.Overland, I., Bourmistrov, A., Dale, B., Irlbacher‐Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. ''Business Strategy and the Environment''. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698

References

External links

* {{DEFAULTSORT:Nunaoil Companies based in Nuuk Oil and gas companies of Greenland Industry in the Arctic

Non-renewable resource companies established in 1985 1985 establishments in Greenland Government-owned companies of Greenland

See also

References

External links