Vancouver, British Columbia -- (SBWIRE) -- 04/16/2012 -- After three centuries of Danish rule, the arctic island of Greenland is emerging as a new frontier on the offshore oil exploration market.

Relying on its former colonizer for finances and strategic market issues and foreign policy, the country is looking to make a change for a brighter future.

The ambitions of Greenland are spot on with the Middle Eastern country, Abu Dhabi, 50 years ago. In the 60's Abu Dhabi excelled in the oil market and 10 years later the UAE was founded by Sheikh Zayed. Their strength came from their willingness to recruit foreigners who brought talent and experience in the petroleum and oil exploration areas and today the amount of foreigners outnumber locals.

Boyd Clark Resource Capital Solutions notes that Greenland recognizes the approach that helped Abu Dhabi move forward quickly and the arctic island wants to mimic this style to expand their economy. Greenland is home to over 57,000 people that share fifty times the land size of Denmark. With their new economic strategy, foreign companies are able to establish oil exploration and offshore oil drilling.