Greenland

Investment & Operational Criteria

Key Indicators

Risk Premia

1.250

%

Outlook

Uncertain

Rating

C|5S|§

Ranking

89

Reserves (1P)

Total

mm boe

Oil

0

%

Summary

Greenland remains a promising frontier play, especially in the offshore segment. The government is keen to promote oil & gas investment, and although few changes to the fiscal code are planned or demanded, the ministers remain open to suggestions.

Updated

August 18, 2023

Country Basics

Region

Americas - North

Reserves (1P)

Oil

mm bbl

Gas

bcf

Location

GreenlandGreenland

Northern North America, island between the Arctic Ocean and the North Atlantic Ocean, northeast of Canada.

Outline

Tax Regime
Type

Concession

Tax Regime
Notes

Greenland tax-resident companies are subject to corporation tax on their worldwide profits, including chargeable gains, with credit for any creditable foreign taxes. The taxable income of companies is stated as their gross income net of operating expenses — i.e., expenses incurred during the year in acquiring, securing and maintaining the income.

Investment & 
Operational
Climate

Greenland remains a difficult to enter, and is limited in scope. Governmental support is encouraging, but here again, its assistance is limited.

Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.

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