Country Report

Iceland upstream summary

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09 February 2016

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 ...

Table of contents

  • Key facts
  • Location maps
    • Introduction
    • Jan Mayen ridge
      • Regional setting
      • Stratigraphy
      • Hydrocarbon play
      • Source rocks
      • Reservoir rocks
      • Seals
      • Traps
      • Primary hydrocarbon indication
    • Licensing
    • First Licensing Round - The Dreki Area
    • Second Licensing Round - The Dreki Area
    • Drilling
      • Drilling activity
  • Reserves and resources
    • Oil/liquids
    • Introduction
    • Key legislation
    • Regulatory body
    • State oil company
    • State participation
    • Licensing
      • Prospecting
      • Exploring and producing
    • 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

Tables and charts

This report includes 8 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Map of Dreki Area
  • Fiscal terms: Table 1
  • Policy and regulation: Table 1
  • Active blocks in Iceland
  • Fiscal terms: Table 2
  • GEM models

What's included

This report contains:

  • Document

    Country Overview

    PDF 1.22 MB

  • Document

    Country Overview

    XLS 145.50 KB

  • Document

    Country Overview

    ZIP 1.16 MB

  • Document

    Key facts

    PDF 682.59 KB

  • Document

    Location maps

    PDF 1.04 MB

  • Document

    Geology

    PDF 805.00 KB

  • Document

    Exploration

    PDF 697.07 KB

  • Document

    Reserves and resources

    PDF 670.02 KB

  • Document

    Production

    PDF 681.95 KB

  • Document

    Infrastructure

    PDF 684.35 KB

  • Document

    Policy and regulation

    PDF 754.34 KB

  • Document

    Fiscal terms

    PDF 738.46 KB