Norsk Hydro Satisfied with Mature NCS Area Awards

Hydro was granted five new operatorships in the Norwegian government's round of license awards in mature offshore areas. "We are very satisfied with the awards," said Nils Telnaes, Hydro's chief of exploration in the Norwegian offshore sector.

Hydro received operatorship offers for five areas and ownership shares in three acreages in the North Sea and Haltenbank region in connection with the "Round of pre-defined areas" (TFO 2004).

"The awards give us a strong foundation for operating goal-oriented exploration activities in areas around existing production infrastructure. In this context, it is especially positive that Hydro gets access as an operator to new exploration areas around the Heimdal and Njord platforms," Telnaes commented.

The Ministry of Petroleum and Energy has awarded 21 companies offers to rights and operatorships in a total of 28 production licenses in the North Sea, Haltenbank in the Norwegian Sea, and around the Sn°hvit field in the Barents Sea. The companies received offers for participation stakes in a collective total of 55 blocks and parts of blocks.

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