Distinguished guests and participants of this IDDP-SAGA meeting.

I am very happy to be here to open this meeting of SAGA, the advisory committee of the Iceland Deep Drilling Project (IDDP). This meeting is the fourth in a series of international planning meetings to organize the IDDP, which is an ambitious effort initiated by the Icelandic Power Companies and Orkustofnun, to expand the geothermal resource base, and improve its economics. This program will exploit higher temperature resources than previously attempted. This effort will require applying all our existing knowledge and knowhow and if successful could have a major impact on the geothermal industry here in Iceland and throughout the world.

The international interest shown in this project has been very encouraging. The Icelandic Ministry of Industry and Commerce has from the beginning been watching this project with great interest. The Ministry believes that understanding and support for the IDDP is increasing within the governmental agencies.

I wish you a successful and rewarding meeting for the next couple of days. In particular, I would like to express my thanks to the international specialists for their interest and effort in coming here to help make this project a success. With these words I declare this meeting open.

Thank you,