StatoilHydro Submits Bids in Norway's 20th Licensing Round

StatoilHydro has submitted an application for new production licenses both in the Barents Sea and the Norwegian Sea in the 20th licensing round on the Norwegian continental shelf. The application deadline is today, November 7.

"In order to clarify the resource base and realize the full potential of the Norwegian continental shelf, it is crucial to have access to new acreage," said Tim Dodson, head of explorations on the Norwegian continental shelf.
"StatoilHydro has completed a highly comprehensive and successful exploration program in 2008."

StatoilHydro has made many discoveries, but the size of the finds is still limited.

 "Access to acreage which may form the basis of new independent developments is therefore particularly important. StatoilHydro has met all its fixed drilling commitments from the 19th licensing round awarded in the spring of 2006, and we are ready to take on new assignments," added Dodson.

In the 20th licensing round 79 blocks or parts of blocks were announced, 51 blocks in the Norwegian Sea and 28 in the Barents Sea.

Award of new production licences is scheduled for March/April 2009.