EVIDENCE has been found suggesting that oil and gas resources may exist around the JanMayen Ridge, where the North Atlantic and Arctic Sea merge.
If this turns out to be the case, then it would appear that oil and gas reserves may one day be exploited from Norway right across to Greenland.
The latest evidence has been collected by the Norwegian Petroleum Directorate and Bergen University.
“The samples from the seabed at Jan Mayen are remarkable; the oldest are 260million years old. Analyses of the material are surprising,” said Sissel Eriksen, exploration director in the directorate.
“We had hoped, but not expected, to find such old sedimentary rocks near Jan Mayen. The impact of volcanic rocks in the area is less than we previously thought – volcanic rocks generally do not have a potential for oil and gas.”
Good quality sandstone was discovered which can function as a reservoir rock. In addition, rocks the same age as source rocks on Greenland were discovered.
“This means that we have rocks that could contain material which forms oil and gas. Two important preconditions for possible petroleum deposits are thus in place,” said Eriksen.
The sea floor around Jan Mayen was sampled using a remotely-operated vehicle during a research voyage by the GO Sars that took place from July 3-19.
In line with an agreement with Icelandic authorities (Orkustofnun), data was acquired from both the Icelandic and Norwegian sides of the Jan Mayen Ridge. The water depth in the survey area ranged 600-2,000m.
Among other things, fossil-rich limestone, sandstone, clay stone and volcanic material were collected. The directorate has analysed much of the acquired material and dating shows ages ranging from Late Permian/Early Triassic (260million years), Early Cretaceous (Valangin, 140million years) and Late Eocene/Early Oligocene (34million years).
Greenland and Norway were previously located very close to each other, much closer than the current distance between Norway and the UK.
Greenland and Norway separated during two major rift episodes, where the Norwegian Sea and the Greenland Sea were formed. In connection with this activity, Jan Mayen became a separate micro-continent.
The Jan Mayen Ridge has a sole of Precambrian bedrock, and it has previously been assumed that this area primarily consists of volcanic material. The geological knowledge regarding these sea areas associated with the petroleum potential has, until now, been sparse.
Additional seismic will be acquired on the ridge during the summer of 2012.