Greenland opened three new offshore areas for application of oil and gas exploitation licenses off West Greenland. The areas are Baffin Bay, Disko West, and Davis Strait.
The country also said it is working on an oil strategy to reduce geological uncertainty by offering an investment package to companies that engage in its Open Door Procedures. The procedures are a first-mover advantage to remove national oil company Nunaoil, as a carried partner, reducing turnover and surplus royalties. It is estimated to reduce the government take by 51.3% to 40.6%.