Greenland Energy advances 2026 Arctic drilling campaign with logistics agreement

(WO) - Pelican Acquisition Corporation and Greenland Exploration Ltd., which are in the process of combining to form Greenland Energy Company, have secured Arctic logistics support for planned drilling operations in the Jameson Land basin. 

The companies announced a strategic agreement with Canadian maritime operator Desgagnés to provide specialized ice-class vessels and Arctic beach-landing capabilities required to mobilize drilling equipment and personnel. The operations will be coordinated with Royal Arctic Line, Greenland’s exclusive maritime logistics license holder.

The agreement marks a key operational milestone as the company advances plans for a 2026 drilling campaign in the frontier basin, one of the first onshore oil exploration programs in Greenland in more than 50 years.

Desgagnés will provide ice-class vessel transport and beach-landing services to complement Royal Arctic Line’s sealift operations within Greenland’s national logistics framework. The company also operates port services at the Port of Valleyfield in Quebec, which specializes in Arctic project consolidation and breakbulk cargo handling.

Company executives described the agreement as a step toward de-risking the operational aspects of the project ahead of mobilization.

The logistics agreement was executed by March GL Company, which, along with Greenland Exploration Ltd., is set to merge with Pelican Acquisition Corporation. Upon completion of the pending business combination, the resulting entity is expected to list on Nasdaq under the ticker symbol “GLND.”

The Jameson Land basin has been identified as a prospective onshore oil play in eastern Greenland. The upcoming campaign will test the basin’s resource potential under Arctic operating conditions, requiring specialized high-latitude marine transport and logistics coordination.