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Awards in the 24. licensing round

Today the Norwegian Ministry of Petroleum and Energy is awarding 12 new licenses in 47 blocks on the Norwegian Continental Shelf. Nine of the licenses are located in the Barents Sea, while three are located in the Norwegian Sea.

- Offering new acreage for exploration is a vital part of the Government's petroleum policy. Through the 24th licensing round, additional promising acreage will be explored, thereby making new discoveries possible. This licensing round confirms that the oil companies see opportunities for further profitable petroleum activity in the north, says Norwegian Minister of Petroleum and Energy, Mr. Terje Søviknes.

 

In the 24th licensing round, 11 companies are offered participating interest. Six of them are offered operatorships. The licenses are awarded on the condition that the companies commit themselves to a work program for the coming exploration activity.

 

Following up on the Government's political platform, the Jeløya platform, an additional condition will apply to two licenses close to the Bear Island (Bjørnøya). This condition, which was not part of the announcement of the 24th licensing round, states that exploration drilling in oil bearing layers cannot take place between 1 April until 15 August.    

 

- The petroleum industry is Norway's largest and most important industry. By maintaining a predictable, stable and long term petroleum policy, the Government lies the foundation for the industry to develop further. This is vital for Norwegian jobs, competitiveness and our welfare, Minister Søviknes adds.

 

The Norwegian Government announced the 24th licensing round on 21 June 2017 (announcement).  For maps of the areas, see the Norwegian Petroleum Directorate. For background information on the licensing system, see norwegianpetroleum.no.

1. Map
2. Award overview with work-programme

 

Offer to six operators

(number of operatorships in brackets)

 

A/S Norske Shell                                              (1)

AkerBP ASA                                                       (2)

Equinor Energy AS                                          (5)

Lundin Norway AS                                          (1)

OMV (Norway) AS                                          (1)

Spirit Energy Norge AS                                  (2)

 

Offer to 11 licensees

(number of shares (including operatorships) in brackets)

 

A/S Norske Shell                                              (1)

AkerBP ASA                                                       (6)

DEA Norge AS                                                   (2)

Equinor Energy AS                                          (7)

Idemitsu Petroleum Norge AS                   (1)

Lundin Norway AS                                          (3)

M Vest Energy AS                                           (1)

OMV (Norway) AS                                          (1)

Spirit Energy Norge AS                                  (4)

VNG Norge AS                                                  (1)

Wintershall Norge AS                                    (1)

 

 

 

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