New research strengthens the belief that there is oil in the seabed around Jan Mayen.

Jan Mayen is a Norwegian archipelago north of Iceland. The Map shows the EEZ around Jan Mayen, which Norway is entitled to. However, the Dreki Area is also within Iceland’s jurisdiction so the country could benefit if oil is found.

"The samples from the seabed around Jan Mayen is stunning, the oldest bedrocks are 260 million years old. The analysis of the material is surprising," Sissel Eriksen, exploration director of Norwegian Petroleum Directorate told Geo365.no.

"We had hoped, but not expected, to find so ancient sedimentary rocks around Jan Mayen. The influence of volcanic rocks in the area is less than we previously thought - volcanic rocks generally have no potential for oil and gas. But this means we have rocks that may contain material that forms the oil and gas. Two important prerequisites for potential petroleum deposits are thus met," says Eriksen.

The expedition was in July this year with agreement with Icelandic authorities. The samples were taken from both the Icelandic and Norwegian side of the Jan Mayen ridge.

Environmental impact assessment will be next in line for the oil research in the Dreki area.

Source: Geo365.on