Still Significant Interest in Mature Area Exploration Within NCS
There is still significant interest in exploring mature areas within the Norwegian Continental Shelf, says the Norwegian Petroleum Directorate.
Norway’s application deadline for awards in pre-defined areas (APA) 2016 expired on September 6, with the authorities receiving applications from 33 companies.
“It is very positive that so many companies still believe that more oil and gas can be discovered on the most mature parts of the shelf. We have received many exciting applications,” said Sissel Eriksen, exploration director in the Norwegian Petroleum Directorate.
“The APA scheme is important for maintaining the activity level and realising the values on the shelf. The application volume has remained consistently high in recent years, and this demonstrates that the companies also prioritise exploration in mature areas during times with challenging cost and price regimes,” he added.
Work on the technical evaluation of the applications is currently underway. The Norwegian Petroleum Directorate is also evaluating the applicants’ geological concepts and strategy for exploring the areas on offer.
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