Largest Licensing Award on NCS
The Norwegian Ministry of Petroleum and Energy revealed Tuesday that it has offered 83 production licenses on the Norwegian Continental Shelf (NCS) as part of its latest APA round.
The licenses are distributed over the North Sea (37), the Norwegian Sea (32) and the Barents Sea (14). Offers were made to 33 different oil companies, ranging from international majors to smaller domestic exploration companies. The full list of companies can be seen below:
- Aker BP
- AS Norske Shell
- Capricorn
- Chrysaor
- Concedo
- ConocoPhillips
- DEA
- DNO
- Dyas
- Edison
- Equinor
- Faroe
- Idemitsu
- INEOS
- Inpex
- Lime
- Lundin
- M Vest
- MOL
- Neptune
- OKEA
- OMV
- Pandion
- Petrolia NOCO
- PGNiG
- Repsol
- Source
- Spirit
- Suncor
- Total
- Vår Energi
- Wellesley
- Wintershall
“I am delighted to offer 83 new production licenses in this year's APA round. This is the largest licensing award on the Norwegian continental shelf,” Norway’s Minister of Petroleum and Energy, Kjell-Borge Freiberg, said in a government statement.
“Fifty-three years after the first licensing round, this new record confirms the industry's belief in continued value creation and activity in Norway,” he added.
Commenting after the Norwegian Ministry of Petroleum and Energy announced the results of the APA round, Jamie Thompson, an analyst on Wood Mackenzie’s Europe upstream team, said, “it’s undoubtedly positive to see so many license awards and active companies in this year’s APA”.
The Wood Mackenzie representative added however that “the proof is in the work commitments” and stated that “those left something to be desired, with the number of wells down from five to three on last year”.
The first licensing round on the NCS took place in 1965. The activity started in the North Sea, and exploration in the Norwegian Sea and the Barents Sea started around 15 years later.
WHAT DO YOU THINK?
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.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension