Pertra Submits Extensive Application for APA 2007

On Friday September 28, the deadline for submitting applications for the APA (Awards in Predefined Areas) 2007 to the Ministry of Petroleum and Energy expired. This year, Pertra submitted its most extensive application ever.

The Award in Predefined Areas is the government's annual licensing round in the so-called mature areas on the Norwegian Shelf. In these rounds, the oil companies have the opportunity of applying for blocks that have been previously licensed and subsequently relinquished.

Prior to handing in the applications geologists, geophysicists, reservoir engineers, and economists invested considerable efforts in completing the APA 2007 applications. "As previously, Pertra applied both as operator and as partner", says Exploration Manager Tom Bugge.

Pertra has never been as favorably positioned for comprehensive awards as now. With 48 employees, whereof geologists, geophysicists, and reservoir engineers constitute half this number, Pertra has the benefit of one of the most extensive G&G staffs among all the applicants. Add the fact that the company has secured rig capacity for operating 18 exploration wells over the next four years, and Pertra emerges as a key player with regard to attaining the Norwegian Petroleum Directorate's stated objective of discovering further 20 billion barrels of oil equivalents on the Norwegian Shelf.

Pertra's highly expansive program is also boosted by the fact that the company is applying for licenses in the Barents Sea for the first time.

"In addition, the comprehensive APA 2007 application reflects that Pertra is in the process of widening its scope of interest. In previous licensing rounds, Pertra has targeted licenses with a large probability of discovery; now we are interested in several other areas with less probability of discovery. The reason why we nevertheless express an interest in these areas, is that we might expect to find quite sizeable fields here", explains Tom Bugge.

The Ministry aims to award new production licenses in APA 2007 at the end of 2007 or at the beginning of 2008.