Trump’s Greenland Oil Ambitions Gain Momentum as U.S. Firm Targets 2027 Drilling

Greenland Energy Company CEO Robert Price told Fox Business that the company plans to conduct its first exploratory drilling operation in eastern Greenland in partnership with British firm 80 Mile. The project is focused on the Jameson Land Basin, an area believed to have significant oil potential.

An independent engineering assessment has estimated that the basin could contain as much as 13 billion barrels of crude oil, according to Price. However, the figure remains an unproven resource estimate, and the amount of oil that could ultimately be recovered will not be known until exploration and further testing are completed.

The project faces substantial regulatory and environmental hurdles. Greenland halted the issuance of new oil and gas exploration licenses in 2021 over environmental concerns. The proposed drilling program is based on existing permits, but environmental and social impact assessments still require approval from Greenlandic authorities.

Trump has repeatedly promoted oil, gas and mineral development in Greenland, arguing that the island’s resources are strategically important to U.S. and European energy security. Price has similarly argued that future Greenlandic oil production could help reduce Western dependence on supplies from the Middle East.

However, drilling has yet to begin, commercial production remains uncertain, and Greenland’s government retains authority over the necessary approvals.

The proposed project is also likely to intensify debate over the environmental risks of Arctic oil development, Greenland’s resource sovereignty and the broader geopolitical competition surrounding the region.