The National Energy Authority (NEA) of Iceland announces the First Licensing Round for the northern Dreki Area closed for applications on Friday, 15 May 2009.
The NEA received two applications for exploration and production licenses during the Licensing Round. In addition, during this period, the NEA received one application for a prospecting license in the Dreki area. An open door policy is, however, maintained for prospecting licenses. Submitted applications for exploration and production licenses will be opened at the premises of the NEA, Grensá'e1svegur 9, 108 Reykjavík, at a publicly available meeting on 18 May 2009, at 14:00. At the opening, the names of the applicants and the block(s) applied for will be read out.
The NEA is pleased with the applications, especially considering the challenging conditions for exploration in the Dreki Area. This is a difficult and expensive long-term exploration project for the future licensees, but with the potential for high reward upon successful exploration.
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