Details of Norway APA License Awards Emerge
Details of awards in Norway's latest licensing round have begun to emerge as a number of firms announced their license offers from the Norwegian government.
Sweden's Lundin Petroleum said late Tuesday it had been awarded interests in seven exploration licenses as part of the 2012 Awards in Predefined Areas licensing round. Four of Lundin's licenses are located in the North Sea, with two in the Norwegian Sea and one in the Barents Sea.
Bridge Energy said Monday morning that it had been awarded 40 percent and operatorship of block 6407/4 offshore mid-Norway. Bridge CEO Tom Reynolds commented in a company statement: "This represents a valuable addition to the company's licence portfolio which has the potential to add further drillable targets in the future. This successful application, together with the commercial discoveries and acquisition of Boa, confirm 2012 as a very positive year for Bridge, laying the foundation for further success in the future."
Meanwhile, Faroe Petroleum reported that it has been offered eight licenses. These include shares in seven licenses in the Norwegian North Sea and one in the Norwegian Sea.
"Faroe Petroleum is delighted to have been awarded eight prospective exploration licenses in the 2012 Norwegian APA licensing round announced yesterday, three of which will be operated by Faroe, which significantly enhances our strategic position in the country," Faroe CEO Graham Stewart commented in a company statement.
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