Icelandic oil licences to be offered again

earthThe Icelandic Minister for Industry has decided that the second tender for test drilling licences in the Dragon Zone will take place next year.

Special licences for oil and gas prospecting in the Dragon Zone off northeast Iceland will be auctioned between 1st August and 1st December 2011. A statement from the Ministry of Industry says that Iceland’s Energy Administration has recently been in contact with oil companies who showed interest in the first unsuccessful offer last year but decided not to apply, reports.

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