Norway Offers 64 Blocks in 19th Licensing Round

The extensive announcement of 64 blocks in the Barents Sea and the Norwegian Sea will form the basis for new activity and value creation in northern Norway. This is the first announcement in frontier areas of the Barents Sea since 1996. By awarding new production licenses in these ocean areas, the oil companies gain the possibility to develop areas with large resource potential, says Thorhild Widvey, Minister of Petroleum and Energy.

The Norwegian Government announces 64 blocks in the 19th licensing round. The licensing round comprises 30 blocks in the Barents Sea and 34 blocks in the Norwegian Sea. The blocks in the Norwegian Sea have been announced in several different areas to ensure that promising areas are explored. The announcement also forms the basis for a gradual and efficient exploration of the Barents Sea, where the announced areas consist of core blocks suitable for testing the geology in larger areas. The announcement is in line with the strict environmental requirements set down by the Government when it decided to reopen the Barents Sea.

The petroleum industry provides profitable, stable and knowledge-based employment. The development of Sn°hvit has illustrated how important the oil and gas industry is for activity and optimism in northern Norway, especially in Finnmark. New discoveries may be of great importance to employment and industrial development along the coast of Norway, Minister Widvey commented.

Increased Norwegian activity in the Barents Sea forms the basis for what may be the most important petroleum province in Europe. Through close cooperation with Russia we may contribute to better management of the environment and the natural resources, said the Minister of Petroleum and Energy.

On October 14, 2004 the Ministry of Petroleum and Energy published the schedule for the 19th licensing round and announced that it would comprise areas in the Barents Sea and the Norwegian Sea.

Closing date for applications is on November 15, 2005, with planned awards the first quarter of 2006. Ahead of the planned award of blocks in the 19th Licensing the Round, the Government aims to take under consideration the Integrated Management Plan. It is a condition that any possible award and conditions relating to such an award, of the blocks (the five close to the coast in the Barents Sea) does not conflict with the conclusion of the Management Plan.

The following blocks or part of blocks are included in the 19th licensing round:

6201/4, 5, 6, 7, 8, 9
6202/4, 5, 7, 8, 9, 12
6204/6, 8, 10
6205/3
6302/5, 7, 8
6305/6
6403/2, 3
6406/11
6503/11, 12
6505/3, 6, 9
6506/1, 4
6603/5, 6, 7, 8
7123/4
7124/5, 6
7125/4, 5
7220/1, 2, 4, 5
7224/6
7225/4
7226/2, 3
7227/1
7228/1, 2
7229/6, 7, 8, 9
7230/1, 2, 3, 4, 5, 6
7231/4
7324/7, 8
7329/11

Map (pdf format)

Announced blocks in the Norwegian Sea
Announced blocks in the Barents Sea

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles
Related Articles


Brent Crude Oil : $54.46/BBL 0.96%
Light Crude Oil : $51.68/BBL 1.21%
Natural Gas : $3.44/MMBtu 1.99%
Updated in last 24 hours