Cairn Energy has said it has found oil off the coast of Greenland.
The company has found evidence of two types of oil intermittently over a 400-metre section of volcanic rock, and some reserves of gas in its Alpha-1S1 well.
Cairn Energy chief executive Bill Gammell said the presence of oil and gas confirms an active, working petroleum system in the basin and is extremely encouraging at this early stage of the exploration campaign for the Sigguk block and the entire area.
Cairn Energy also said its first well in offshore Greenland with non-commercial volumes of gas has been plugged and abandoned.
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