'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.'

Read more: China, Iceland Reach Deal on Oil-Rich Arctic