1945
ÍSOR's research history began when Dr Gunnar Böðvarsson, an engineer, returned from his studies. He was hired to carry out geothermal research at the State Electricity Inspectorate, which later became the Electricity Authority Office. In his first years Gunnar concentrated on basic research, while also introducing geophysical methods for geothermal prospecting.
1946
The office of the Director of Electricity Affairs was established by special legislation. With that, the first comprehensive policy on electricity matters in Iceland was formulated.
1956
The Geothermal Division of the Director of Electricity Affairs was set up. Gunnar Böðvarsson was its head until 1964. In the 1940s and 1950s the division's research focused heavily on the potential for electricity generation from geothermal energy, alongside geothermal prospecting for district-heating utilities.
1964
Guðmundur Pálmason, a physicist-engineer, took over as head of the Geothermal Division of the Director of Electricity Affairs, later the National Energy Authority (Orkustofnun). In the 1950s and 1960s the division's activities grew considerably. The geothermal and hydropower divisions carried out all the main basic research in the geosciences, surveying, engineering geology, hydrology and the geology of the seafloor. In these years many of those who became pioneers in Icelandic geoscience and energy research joined, notably Kristján Sæmundsson, Gunnar Þorbergsson, Sveinbjörn Björnsson and Jens Tómasson.
1967
The National Energy Authority (Orkustofnun) was established under new energy legislation and the office of the Director of Electricity Affairs was abolished. From the outset Orkustofnun's role was to advise the government on energy matters while carrying out energy research, especially in geothermal energy and the use of hydropower. At the same time Orkustofnun had conducted comprehensive research in the geosciences and was in effect the country's leading geoscience institution and one of the best-known geothermal research institutions in the world. From 1967 to 1982 Orkustofnun had, for most of the period, two large research divisions, the Geothermal Division and the Electricity Division, with the Geological Exploration Division added in 1971. In the early 1980s the Electricity Division and the Geological Exploration Division merged into the Hydropower Division.
1970
Around 1970 there was a turning point in energy research in Iceland. Major development of hydropower began, with the associated preparatory research. A large rise in the world market price of oil led to a steep increase in home-heating costs for the public, the majority of whom used oil for heating. The government took the sensible decision to eliminate oil in home heating with domestic, renewable energy sources — geothermal energy where possible, and hydropower. The state invested substantial funds in this research, and many young people — geologists, physicists and engineers — were hired during the 1970s. This group is still the backbone of ÍSOR's team of specialists.
1970-80
Alongside increasing progress in geothermal research, extensive cooperation began with foreign research institutions, universities and companies on research and the search for favourable conditions for the formation of oil and gas deposits on the seafloor. A core of expertise was built up in oil and seafloor geology, which led to certain preconditions for the formation of oil and gas deposits being found on the Jan Mayen Ridge and in a sedimentary basin off North Iceland. This research has now led to exploration licences being granted to oil-exploration companies on part of the Jan Mayen Ridge.
1997
The Research Division of the National Energy Authority was created when the geothermal division and the hydropower division were merged. Ólafur G. Flóvenz was appointed its head. The following years were marked by growing interest in high-temperature power plants and the research to prepare for them. There was also great progress in geothermal prospecting and reservoir physics, based on the institution's development work — for example, experiments with reinjection in low-temperature areas, which have been of great importance in the operation of some district-heating utilities.
2003
On 1 July 2003, Iceland GeoSurvey (ÍSOR) was established as an independent state institution. The first five years were marked by extensive construction of high-temperature power plants, and the number of staff exceeded 90. During this period ÍSOR built up a large and high-quality stock of equipment for research and measurement and accumulated an operating surplus in reserve for leaner years. Today ÍSOR employs around 54 people.