Greenland Energy Company, in partnership with British firm 80 Mile, is pursuing exploratory oil drilling in Greenland and claims to hold the sole oil permits for such operations on the Arctic island [1]. The company's CEO Robert Price stated that the firm is in the permitting process to drill its first well in 2027 in eastern Greenland [1]. This development follows President Donald Trump's announcement on Truth Social that "massive" resource exploration was "getting ready to begin" in Greenland, with Trump emphasizing that experts believe the amount of easily available oil in the region "is far greater than that of almost any land, anywhere in the World" [1].
The project is based on permits obtained by White Flame Energy (owned by 80 Mile) in 2015 and 2018 for exploratory drilling in Jameson Land in eastern Greenland [1]. Notably, Greenland's government halted granting new oil and gas permits in 2021 due to environmental concerns, though existing permits granted before 2021 remain valid pending additional government approval [1]. According to an independent engineering report cited by Price, the planned drilling site could contain up to 13 billion barrels of crude oil [1]. However, the exact quantity of oil and its economic viability remain uncertain until exploratory drilling occurs [1].
Price has positioned the project as a strategic solution to reduce U.S. dependence on foreign oil and address global supply chain disruptions caused by regional conflicts [1]. He stated that "if we're successful, or even partially successful, this could really help some of the chokepoints in the Middle East," and noted that the U.S. government has been monitoring the project [1]. The venture represents a potential long-term energy security initiative aligned with Trump's stated interest in expanding American resource exploration capabilities.
CONCLUSION
Greenland Energy Company's pursuit of Arctic oil exploration, backed by existing permits and positioned to begin drilling in 2027, aligns with Trump's stated ambitions to expand resource development in Greenland. While the project could yield significant crude reserves (potentially 13 billion barrels) and reduce U.S. energy dependence, actual viability remains contingent on successful exploratory drilling and Greenland government approval for extraction activities.