Hydrocarbon Research Fund
The Hydrocarbon Research Fund is an educational and research fund relating to hydrocarbon activities in Iceland in accordance with Act No. 13/2001 and Regulation No. 39/2009. See also the Procedures for the Fund.
The Board of Directors for the Fund is composed of one representative for each exploration and production licence and a state representative who is the Chairman of the Board.
Orkustofnun is responsible for the Fund's daily administration, which includes i.a. the provision of information, reception of applications, assessment and processing of grant applications, monitoring progress and final evaluation of granted projects.
Role of the Hydrocarbon Research Fund
The role of the Fund is to strengthen the development of research and scientific knowledge of hydrocarbon resources on the continental shelf of Iceland, the conditions for their formation and to enhance the development of technologies that can improve performance under conditions prevailing there. This shall i.a. be done by:
- Awarding grants to research projects and specialised academic courses with the participation and/or support of Icelandic educational and research institutions.
- Awarding grants to individuals for studies in subjects connected with research into hydrocarbons and their processing.
- Awarding grants to specialised projects in the field of hydrocarbons, including for educational and informatory purposes.
- Awarding grants for research on samples and measurement data collected in connection with hydrocarbon prospecting.
- Awarding grants to strengthen international co-operation in projects involving the Icelandic continental shelf.
Calls for Proposals are advertised in February each year unless the Board decides otherwise.
For further information contact Thorarinn Sv. Arnarson, email: thsa (at) os.is