The history of oil in Svalbard began in earnest when Norsk Polar Navigasjon drilled in Grønfjorden in 1963. This drilling was done with relatively basic equipment. The rig was simple, with a homemade exhaust valve.
Seventeen prospecting wells have been drilled since 1963 but nothing worth exploiting has been discovered. In the 1980s and 1990s, extensive seismic surveys conducted in Svalbard and adjacent waters led to the conclusion that oil and gas prospecting are not of interest at present.