Norway Invites Oil Firms to Nominate License Blocks

Norway Invites Oil Firms to Nominate License Blocks

Norwegian Minister of Petroleum and Energy Ola Borten Moe is inviting oil companies to nominate blocks they want included in the country's 23rd licensing round, the Norwegian Petroleum Directorate reported Thursday.

The NPD said that the primary focus area for the licensing round will be the southeastern Barents Sea but it added that the ministry is also accepting nominations in the Norwegian Sea and North Sea.

The organisation said that the companies' nominations will play an important role in the ministry's decisions regarding acreage in the 23rd round, with the nominations in the southeastern Barents Sea taking place in accordance with seismic data acquired by the Norwegian Petroleum Directorate.

However, the NPD also warned that the need for thorough, efficient data acquisition over the area means the schedule for the licensing round may be delayed when compared to the ordinary two-year schedule.

On August 21, the NPD reported that it had sold its seismic data package for the southeastern zone of the Barents Sea, as well as areas off the Jan Mayen volcanic island, to 15 oil companies, which included majors such as Chevron, Shell, Statoil, Total, ConocoPhillips, ENI and BP.

The NPD said that nominations must be received by the Ministry of Petroleum and Energy by midday January 14 2014.

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