Greenland Energy acquires majority stake in Jameson Land oil project from 80 Mile
Type: Acquisition · Technology: Oil Gas · Country: Greenland · Value: $60M · Announced: 2026-08-13
Greenland Energy Company acquired a majority stake in the Jameson Land oil project from British firm 80 Mile for $60 million. As part of the agreement, Greenland Energy will also be responsible for the technical planning, logistics, and operational coordination of the project. The Jameson Land project, located in an 8,100 square kilometer basin on the east coast of Greenland, holds one of the planet's last large undeveloped oil basins. The original license was granted to White Flame Energy before Greenland's 2021 moratorium on new hydrocarbon permits, and then transferred to 80 Mile in 2024. The project has faced material regulatory delays and public opposition due to environmental concerns.
Counterparties
- White Flame Energy (Parent Company)
- Greenland Energy Company (Buyer)
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