The promotional video shows a small creek trickling through a mossy patch in an otherwise brown, barren landscape, icebergs looming just offshore.
A petroleum engineer dips a hand into the stream, then takes a sniff.
"It smells like crude oil," he says, grinning at the camera.
A small group of contractors and engineers were filmed as they joined veteran
If the oil naturally seeping out of the ground is any indication, they could be looking at a gusher.
"It'll be like the oilfields of the '20s and '30s and '40s," said Price, chief executive of newly formed firm Greenland Energy, in an interview.
"The pressure and the oil will actually come at you."
Canadian companies are playing key roles in the effort to tap what Price said could be one of the world's largest oil basins. The drilling rig is courtesy of
The prize could be enormous, to the tune of 13 billion barrels of gross oil, according to an independent estimate from energy consultancy firm Sproule ERCE. Price likens the potential to the
Price said that samples taken from
"I've been in the oil and gas business a long time and I've been on many wells and when you smell that light sweet crude, it actually smells sweet," said Price.
"The aroma's amazing."
The logistics of the upcoming drilling are mind-boggling, with equipment being hauled from
"It's like playing Tetris," Price said, describing the precise way equipment needs to be loaded. "It's a fairly massive operation."
With war engulfing much of the
Price said he does not see a
"We are focused on respecting the Greenlandic people, their culture, their independence and doing what our part is in helping them become more independent and revenue-generating," he said, adding that interactions with local regulators have been positive.
Price said a resource boom could help the population — 56,000 people, mostly Inuit — become less economically reliant on Denmark.
"People that I've talked to in
But the exploration would be happening five years after the
The land Greenland Energy plans to drill in is under licences belonging to its joint-venture partner,
The first well is expected to take 30 days to complete. A well of a similar depth in
"Because we're in the
For an American businessman looking to tap
The company is preparing to bring one of its rigs to a yard south of
"We are really excited to be part of this," said Kuiper. "There are not too many opportunities like this in
Stampede plans on having seven-worker crews situated in
Greenland Energy announced last month that it had entered into an agreement with Desgagnés to handle the marine transport.
Desgagnés has a 50-year history moving freight through harsh Arctic environments and its Far North exploits are featured in the CBC reality series "High Arctic Haulers." It has operated in
"The west coast of
"In general,
The exploration team will have to be completely self-sufficient as they'll be working in "complete, absolute wilderness," said Duchesne. Everything they need — fuel, food, accommodations, lubricant for machinery and more — is being consolidated at the
It will be crucial to make sure every item from several different vendors is closely tracked. Duchesne expects the ship to be loaded some time in September, with the whole trip taking about a month.
The vessel will likely be the Miena Desgagnés multipurpose cargo ship, which has two cranes that can together lift 500 tons. It will anchor as close as possible to the drill site and the cargoes will be taken to shore by barge.
The delivery will be made to "a random beach" as opposed to an existing hamlet, village or industrial site, as is usually the case for Desgagnés' work in
The ship is to fly a Canadian flag, with a Canadian crew — and employees are clamouring to be part of the
"It's really an adventure."
This report by
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© 2026 The Canadian Press, source
