Pertra Sits Out 19th Licensing Round

19 Licensing Round - Norwegian Sea
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Pertra ASA, which works to identify prospects in mature areas on the Norwegian Shelf, reports that it did not partipate in the recent 19th licensing round for mature areas on the shelf.

Norwegian government authorities have established an annual licensing program for mature areas on the Norwegian Shelf as a supplement to the ordinary licensing rounds. This additional round is limited to outer sections of the Norwegian Sea and parts of the Barents Sea.

"Pertra has assessed neither of these areas to be sufficiently known, and will consequently not engage in these areas at present," the company said in a written statement. "Thus, the company elected not to apply for acreage in the 19th Licensing Round. However, we hope that the authorities will award acreage both in the Norwegian Sea and the Barents Sea in the 19th Licensing Round."

Petra is not writing off the acreage from the 19th round, however. Should participants in the licensing round succeed in their exploration activities, Pertra said that it will pursue that course as well.

The company did participate in the 18th licensing round and garnered two licenses; PL 316 and PL 321.These blocks sit in areas where exploration wells had previously been drilled and discoveries made.

Pertra also noted that it will take part in the coming APA Round. Applications for that round must be submitted by September. "The challenge in the mature areas consists of the licensing system which prior to 2003 enabled companies to keep half the awarded acreage for a period as long as 30 years," stated the company. "Pertra, as most new participants on the Norwegian Shelf, will welcome the opportunity to explore this acreage as a result of this being blocked. The government’s announced initiatives in this area must be implemented as soon as possible."

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