en.Wedoany.com Reported - Greenland Energy Company has signed a service agreement with Halliburton to continue preparations for exploration activities planned for 2026 in the Jameson Land basin in East Greenland.

Under the agreement, Halliburton will provide integrated consulting, logistics, well services, and drilling support for the upcoming project. The project is expected to include the first modern onshore exploration wells in the basin in decades.

The agreement builds on a previously announced five-year drilling contract with Stampede Drilling, involving a rig suitable for Arctic conditions. Greenland Energy has also signed additional service agreements with IPT Well Solutions and other contractors.

Greenland Energy plans to begin drilling operations in October 2026, starting with the OPW-1 and OPW-6 exploration wells, each expected to reach a depth of approximately 3,500 meters. Successful drilling of the initial wells will entitle the company to a working interest of up to 70% in the license area.

The company stated that mobilization activities are underway in the project area, including permitting, infrastructure planning, equipment procurement, and logistics activities required to support field operations in the remote Arctic region.

Greenland Energy recently went public on Nasdaq under the ticker symbol GLND, raising approximately $70 million in gross proceeds through a public offering. The company said these funds will be used to support long-lead equipment procurement and field development activities related to the exploration project.

Greenland Energy is targeting multiple exploration prospects in the Jameson Land basin, where historical seismic data and past industry studies indicate significant oil and gas potential. The company cited independent estimates suggesting the basin may contain up to 13 billion barrels of unrisked prospective oil resources.

Community engagement activities are also ongoing, including meetings with local stakeholders in Ittoqqortoormiit. The company is moving toward commencing drilling operations later this year.

This planned exploration campaign is one of the most closely watched frontier drilling projects in the Arctic, and its results are expected to provide new insights into the oil and gas potential of East Greenland.

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