Iceland has been hit hard by financial crisis, with heavy inflation and numerous bankruptcies over the last six months. However, even if the financial situation is difficult, the prospects of finding oil or gas on Iceland’s continental shelf are pressing forward a demand to invest more money in exploring the possible resources in the so-called Dreki area.
− In spite of the current financial situation which Iceland is experiencing, we must explore the potentials of the Dreki area. Many petroleum investors from all over the world have their eyes set on Iceland now, says Iceland’s minister of Industry Ossur Skarphedinsson according to oilinfo.no.
The Dreki area is the largest easily accessible ocean area in the world which has not been explored for oil and gas resources. According to Iceland’s energy agency there have been found traces of oil in the same kind of sediments as there is found large oil fields on the Norwegian continental shelf.
