Norway offers record number of exploration licenses

Offshore staff

OSLO, Norway --The Norwegian oil ministry offered operators a record 48 exploration licenses over 85 offshore blocks on Monday. Some 34 licenses are in the North Sea, 12 in the Norwegian Sea, and two in the Barents Sea.

The companies offered the licenses were BG Norge AS, Centrica Resources Norge AS, Norske ConocoPhilips AS, Endeavour Energy Norge ASS, E.ON Ruhrgas Norge AS, Gaz de France Norge AS, Lundin Norway AS, Nexen Exploration Norge AS, Norsk Hydro Produksjon AS, Noreco AS, OMV Norge AS, Pertra AS, Petro-Canada Norge AS, Premier Oil Norge AS, Revus Energy AS, RWE Dea Norge AS, Statioil ASA, Talisman, and Total E&P Norge AS.

"This reflects the great interest that currently exists for exploration acreage on the Norwegian continental shelf," says Lars Christian Alsvik, head of the Development Norway sector of Hydro's Oil & Energy business. "The APA awards confirm Hydro's position as an active exploration company on the Norwegian continental shelf."

"We are particularly pleased to have been awarded operatorship in the Bream discovery in the Southern North Sea, which was one of the most sought after licences," says Mark Carne, GB Group executive VP and managing director Europe and Central Asia.

BG's licenses include blocks 17/8, 9, 11, 12, 18/7, and part block 18/10 (BG 40 % and operator) which lie in the southern North Sea and contain the Bream discovery. The licence award carries a commitment for a well to be drilled within two years. BG also landed block 34/6 and part bock 35/4 (BG 25 %, Gaz de France operator) which lie in the North Tampen Area, northern North Sea. The licence award carries a commitment for seismic and a future drill or drop decision within three years.

01/30/2007