This section discusses the activities of companies and organizations that make products from plants and materials other than those derived from marine organisms and are found in the sea and the seabed beneath it.
Oil has been the greatest in some of Iceland’s neighboring countries. Around Iceland material processing at or below the ocean floor around Iceland has been limited. We anticipate that in the future through increased technology and research will pave the way for the utilization of the various resources on or under the seabed. The Icelandic state owns all resources, in or under the seabed off the net zone and as far out to sea as the sovereign right of Iceland extends, by law, treaties or agreements with individual countries. All decisions on the use are thus more or less dependent on government decisions at any time.
(An abstract from a report by the Iceland Ocean Cluster.)