East Greenland Rift

Commentary

Given the Basin's frontier status, it is unlikely that there is much motivation industry wide to explore the Basin. Consequently, this provides for significant opportunities for future investment.

Updated

June 18, 2024

Location

Description

The East Greenland Basin was a rift basin in the late Palaeozoic–Mesozoic. Its basement is metamorphic rock formed by the Caledonian Orogeny in the Archean to Late Ordovician. In the Basin, Devonian–Paleogene strata were deposited on the basement. Lacustrine source rock formed in the late Palaeozoic and marine source rocks in the Late Jurassic. Shallow-marine sandstone reservoirs formed in the Middle Jurassic and deep-marine turbiditic sandstone reservoirs formed in the Cretaceous. The trap types are structure traps, horst and fault-block traps, salt structure traps, and stratigraphic traps. The East Greenland Basin possesses superior reservoir-forming conditions, favourable petroleum potential and preferable exploration prospects.

Summary

Only a handful of wells have been drilled in the Basin, with few encouraging results to date. However, the basin remains a frontier region and, by modern standards, highly prospective.