Greenland Energy CEO Robert Price asserts that the United States must prioritize partnerships in “friendly jurisdictions” to achieve energy independence from foreign oil suppliers. The company is currently undergoing the permitting process and aims to commence well-drilling operations in Greenland by 2027.
An American energy firm has identified itself as a potential key player in accessing a significant oil prospect in Greenland, following business magnate Donald Trump’s declaration that resource exploration on the Arctic island is advancing. Greenland Energy Company, in collaboration with British firm 80 Mile, is seeking approval to drill its inaugural well in eastern Greenland’s Jameson Land Basin in 2027. The partnership claims exclusive rights to oil exploration permits in the region, aligning with Trump’s strategic interest in Greenland’s natural resources.
Satellite imagery demonstrates the Jameson Land Basin in East Greenland, the proposed location for Greenland Energy Company’s oil drilling initiative. (Gallo Images/Orbital Horizon/Copernicus Sentinel Data 2026 / Getty Images)
Trump recently communicated via Truth Social that “substantial oil, gas, and mineral exploration activities are advancing in Greenland.” He emphasized the strategic importance of these resources for national security purposes, stating that the area’s energy reserves “surpass those of most regions globally” and offer critical advantages for U.S. and European defense capabilities.
While Trump’s announcement did not outline specific implementation timelines, Greenland’s authorities halted new oil and gas permits in 2021 due to environmental concerns. However, pre-2021 permits remain active pending further governmental review for extraction. According to Greenland’s Ministry of Business and Mineral Resources, White Flame Energy (majority-owned by 80 Mile) secured exploratory drilling permits in 2015 and 2018, which Greenland Energy now operates through its partnership.
Price indicates that an engineering assessment projects the Jameson Land Basin could contain up to 13 billion barrels of crude oil. The project’s strategic value lies in potentially mitigating global supply chain vulnerabilities, particularly amid geopolitical tensions in oil-dependent regions. The company has submitted all required environmental documentation and plans to initiate drilling by 2027, contingent on regulatory approvals.
The project’s viability and environmental impact assessments remain under review by Greenland’s government, which previously expressed reservations about proposed winter drilling schedules. Price asserts that the crude oil reserves align with North Sea compositions, enabling compatibility with existing European refining infrastructure.
A container vessel navigates the harbor in Nuuk, Greenland. The Arctic territory holds significant strategic value for U.S. military operations. (Julia Wäschenbach/picture alliance/Getty Images / Getty Images)
Price emphasizes the long-term nature of the initiative, citing its potential to address supply chain disruptions linked to regional conflicts. The project’s development coincides with a trilateral security agreement between the U.S., Denmark, and Greenland, ratified during the 2026 UN General Assembly. This accord formally recognizes American military presence in the territory while affirming Greenland’s self-governance rights.
President Donald Trump, Denmark’s Prime Minister Mette Frederiksen, and Greenland’s Prime Minister Jens-Frederik Nielsen sign a trilateral security agreement at the 81st UN General Assembly in New York, September 22, 2026. (Brendan SMIALOWSKI / AFP via Getty Images / Getty Images)
Price, who also oversees U.S. mineral exploration projects in western Greenland, highlights the security framework’s role in ensuring operational stability for long-term investments. He maintains that the agreement provides essential certainty for continued resource development in the region. Greenland officials have declined to comment on Trump’s recent public statements regarding Arctic resource initiatives.