China, Iceland reach deal on oil-rich Arctic

http://www.presstv.ir/detail/237257.html

China and Iceland have struck a deal on the oil-rich Arctic region during Chinese Premier Wen Jiabao’s visit to Reykjavik.

The deal was part of a package of six agreements signed on Friday, on the first day of the Chinese premier's visit, which is the first leg of his tour of northern Europe, during which he conducted negotiations with Icelandic Prime Minister Johanna Sigurdardottir, AFP reported.
Sigurdardottir called the Arctic deal a research collaboration, after an agreement was reached with Wen and his 11-member delegation of ministers and deputy ministers.
"These agreements will provide various opportunities for increased cooperation on research between Icelandic and Chinese scientists in this area," the website of the Icelandic prime minister’s office quoted her as saying.
In addition to the Arctic cooperation agreement, the two countries signed five other accords.
They agreed to cooperate on geothermal sciences; marine and polar sciences; geothermal research; and a solar project in Iceland.
And Iceland's Orka Energy reached a deal with the China Petrochemical Corporation of the Sinopec Group to use geothermal energy in China for heating homes and producing electricity.