Monday, 15 August 2011 08:02
Written by CBC News
Cairn Energy says it is convinced it will find oil and gas in the Arctic waters off Greenland's western coast, even though it not found any commercial deposits to date.
The Scottish exploration company is planning to drill four exploratory wells this summer in Davis Strait and Baffin Bay, both off the west coast of Greenland, but it has already abandoned one of its wells after finding it was dry.
David Nisbet, Cairn Energy's head of group corporate affairs, said the company still plans to drill the three other wells this summer.
"We believe somebody will find hydrocarbons [in] offshore Greenland. We obviously hope it is in our drilling campaign," Nisbet told CBC News.