Country report
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16 Pages

Iceland upstream summary

Iceland upstream summary

Report summary

Iceland is a geologically unique island located directly over the Mid-Atlantic Rift that separates the North American and Eurasian tectonic plates. While known better for its volcanoes and geothermal activity than its petroleum potential, there are parts of Iceland's continental shelf that contain sedimentary rocks with potential for hydrocarbon generation and accumulation.Two areas have been identified as prospective for hydrocarbon exploration. The Dreki area is located approximately ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 797.41 KB 16 Pages, 5 Tables, 3 Figures
  • Country Overview XLS - 235.00 KB


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Key facts
  • Location maps
  • Geology
    • Introduction
    • Jan Mayen ridge
      • Regional setting
      • Stratigraphy
      • Hydrocarbon play
      • Source rocks
      • Reservoir rocks
      • Seals
      • Traps
      • Primary hydrocarbon indication
  • Exploration
    • Licensing
    • First Licensing Round - The Dreki Area
    • Second Licensing Round - The Dreki Area
    • Drilling
      • Drilling activity
  • Reserves and resources
  • Production
    • Oil/liquids
  • Infrastructure
    • Introduction
  • Policy and regulation
    • Key legislation
    • Regulatory body
    • State oil company
    • State participation
    • Licensing
      • Prospecting
      • Exploring and producing
  • Fiscal terms
    • Overview
    • Current fiscal terms
    • Concession terms
      • State equity participation
      • Royalty
      • Corporate Income Tax
      • Fiscal/Contractual ring-fences
      • Hydrocarbon tax
      • Bonuses, rentals and fees
      • Application bonuses
      • Signature bonuses
      • Indirect taxes
      • Domestic market obligation
      • Contractor revenue entitlement
      • Product pricing
      • Dividend withholding tax
      • Other taxes
      • Sample cash flow
      • Methodology
    • Historical background
      • 2000s

In this report there are 8 tables or charts, including:

  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Geology
    • Map of Dreki Area
  • Exploration
  • Reserves and resources
  • Production
  • Infrastructure
  • Policy and regulation
    • Policy and regulation: Table 1
    • Active blocks in Iceland
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • GEM models
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