Spring Energy 'Wants to Go Exploring' Offshore Norway

Bente Flakstad Vold, Vegard Gunleiksrud and their colleagues in Spring Energy have been working intensively to complete their applications for the 20th licensing round in the Norwegian continental shelf.

"The 20th round includes many interesting areas. This will be exciting," said the two geophysicists who enthusiastically presented the applications to the Norwegian Petroleum Directorate on November 6.

Spring Energy has existed for less than one year. At present, the company owns rights in five production licenses in the North Sea and the Norwegian Sea. Their ambition is to get their hands on more attractive exploration acreage.

"The Norwegian shelf is definitely interesting, from the southern part of the North Sea to the Barents Sea. We are exploring actively, and we also want operator responsibilities," said Gunleiksrud.

According to Gunleiksrud and Flakstad Vold, Spring Energy's 22 employees have extensive experience from the Norwegian shelf. Many have their backgrounds from companies such as StatoilHydro, DNO and ChevronTexaco. And being small is not necessarily a drawback.

"We have rapid decision processes, things do not take much time. Another advantage is the fact that the various disciplines are gathered in one place, working closely together," Flakstad Vold pointed out.

In addition, the company has special competence in processing of geophysical data and petroleum systems analysis in-house. This is uncommon among small companies, and makes Spring Energy an attractive partner for other companies.

The awards in the 20th licensing round are scheduled to take place in March/April 2009.