Norway round draws record bids

Oct. 6, 2006
Norwegian 2006 mature acreage round attracts big increase in applicants

Offshore staff

(Oslo) A record 43 companies have applied for acreage under Norway's latest Awards in Predefined Areas licensing round (APA2006). This represents an increase of nearly 50% over the number of applicants last year. New production licenses should be issued in December.

Acreage on offer amounted to 61,452 sq km, the largest total to date, spread among 192 full and part-blocks. Of these, 121 are located in the North Sea, 55 in the Norwegian Sea, and 24 in the Barents Sea. The aim of the APA system is to promote faster exploration in mature areas, and to assist long-term planning by letting the industry know what mature areas will be on offer in the years to come.