StatoilHydro Collects New Operatorships in Norwegian Licensing Round

StatoilHydro was awarded interests in seven new production licenses with a total of five new operatorships in the 20th licensing round which was announced on Apr 30. Three of the awards are in the Barents Sea and four are in the Norwegian Sea.

The new licenses lie in different geological provinces and their resource potential could form the basis for stand-alone developments.

"We are very satisfied with these awards and have great confidence in the potential of the Norwegian continental shelf," said Tove Stuhr Sjøblom, senior vice president for exploration on the NCS.

"Access to new high-quality acreage was our top priority in the 20th licensing round.

"StatoilHydro has had a very high level of exploration activity in recent years. The new allocations justify continued exploration. We have knowledge, expertise and experience and are well-equipped to take on new exploration assignments."

The large number of companies awarded interests in new licenses shows that the industry takes a positive view of the NCS. Nevertheless, the chances of making major discoveries are limited and pressure is rising to open new areas.