Strong Interest Shown in Latest Norwegian APA Round

Norway's Ministry of Petroleum and Energy announced Friday that is offering shares in 51 new production licenses to 40 companies in connection with the 2012 Awards in Predefined Areas licensing round.

"Today, I am sending out offers linked to 51 new production licenses for the Norwegian continental shelf. I am pleased to see strong, broad-based interest in the most well-known parts of the continental shelf. This year's licensing round confirms that Norway's combination of framework conditions and geological opportunities is internationally competitive," Minister of Petroleum and Energy Ola Borten Moe said in a statement.

The Ministry said that the 51 production licenses are distributed among the North Sea (34), the Norwegian Sea (14) and the Barents Sea (3). Forty seven companies in total applied for licenses, with 40 being offered shares in one or more of these. Twenty three companies will be offered operatorships.

The APA licensing round includes mature areas on the Norwegian continental shelf, which have already been well explored and where the geology is known. The expected size of discoveries in mature areas is smaller, although the Ministry pointed out that recent years "have shown that positive surprises can still happen".

Borten Moe added:

"The award of new licenses is vital for effective, long-term resource management. Today's awards will facilitate the efficient exploration of the parts of the continental shelf that we know best. The next step is for the companies to deliver good results in the form of profitable discoveries."

 

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Malaysia's SapuraKencana Forms JV to U... (Aug 4)
 -  Peregrino Field Offshore Brazil Produc... (Aug 4)
 -  Swiber Secures Letter of Intent for $8... (Aug 4)
 -  First Oil Achieved from Cidade de Itag... (Aug 3)
 -  Polarcus Wins 3D Seismic Project (Aug 3)


Most Popular Articles

From the Career Center
Jobs that may interest you
Operations Process Specialist
Expertise: Process Management
Location: Texas, TX
 
Regulatory Analyst - 9 Month Contract
Expertise: Project Management
Location: Texas, TX
 
Sr./ Staff Auditor 2
Expertise: Accounting or Finance|Commercial Management|Legal
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $49.52/BBL 5.15%
Light Crude Oil : $45.17/BBL 4.54%
Natural Gas : $2.75/MMBtu 1.10%
Updated in last 24 hours