IDDP is pleased to announce that Statoil Petroleum AS signed a new agreement with IDDP to re-enter the IDDP consortium as a funding and expertise partner to 2020. IDDP is planning to drill a 5 km deep well at Reykjanes in 2016. Statoil (New Energy AS) participated in IDDP between 2008 and 2011, during the drilling and flow testing of drill hole IDDP 1 in Krafla.

The drill hole to be deepened at Reykjanes is already 2.5 km deep production well. It will be reconditioned to accommodate about 3 km deep production casing and then deepened to about 5 km depth and identified as drill hole IDDP-2.