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BP Is Bidding for Exploration Rights Near Greenland, Times Says

Bloomberg

By Alan Purkiss – Aug 25, 2010 6:36 AM GMT+0100

BP Plc is one of 12 companies bidding for the right to explore for oil in deep water off western Greenland, the London-based Times reported, without saying where it got the information.

Greenland will probably name the winners of as many as 14 exploration blocks, covering the northern part of Baffin Bay, within the Arctic Circle, within weeks, the newspaper said, adding that the area is considered to be one of the world’s most fragile environments

Royal Dutch Shell Plc and Statoil ASA, Norway’s state-owned oil producer, may also be bidding for licenses, the Times said.

Neither Greenland’s Bureau of Minerals and Petroleum nor BP would comment on whether BP is bidding, the newspaper said.

To contact the reporter on this story: Alan Purkiss in London on [email protected].

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