Wednesday, August 25, 2010

Greenland oil 'grave news'

Cairn Energy finds oil signs off Greenland
BBC News: Edinburgh-based Cairn, the first company for a decade to drill for oil offshore in Greenland, said it had 'early indications of a working hydrocarbon system' in Baffin Bay. But environmental campaigners have raised concerns in the wake of BP's Gulf of Mexico oil spill disaster. Greenpeace said the announcement was 'grave news.' The group says it threatens the fragile Arctic environment, and has sent a protest ship to Baffin Bay.

Cairn's T8-1 well in Baffin Bay found small quantities of gas in thin sands. Drilling is continuing at the site, and the company plans to drill at least two other wells this summer. In the long term, it plans to target depths of more than 4,000 metres.

A separate report on Tuesday from the Health and Safety executive in the UK said major oil and gas leaks offshore in Britain rose 39% last year.
Image source here.