Norwegian company Sagex Petrolium has requested information about servicing for oil entities in the eastern part of Iceland. Looking to the Dreki area, oil processing could be feasible in the area in the near future.
The request was sent to Norwegian authorities. The area is just south of Jan Mayen, but the most promising oil area is around 260km from the islands.
The distance to the nearest harbour in Iceland is 400km. The advantage is that Iceland has infrastructure in place and a good airport and deep fjords, convenient for sailing.
Jan Mayen is not feasible since the infrastructure is small and the airport primative. It would mean a lot of money and nature röskun for the area.
Although oil is thought to be in the area, it is not clear if it is in workable state.
The municipality of Þórshöfn, Langanesbyggð, is already working on possible oil servicing areas in the eastern part of Iceland, in conjunction with the town of Vopnafjörður.
Sources