NPD reviews latest Norwegian license round applications

Norway’s Petroleum Ministry has received applications from 33 companies for the country’s awards in pre-defined areas 2016 licensing round.

Sep 22nd, 2016

Offshore staff

OSLO, Norway --Norway’s Petroleum Ministry has received applications from 33 companies for the country’s awards in pre-defined areas (APA) 2016 licensing round.

Bids came in for acreage across theNorwegian shelf, although the main interest was in the North Sea and the Norwegian Sea.

“The APA scheme is important for maintaining the activity level and realizing the values on the shelf,” said Sissel Eriksen, exploration director at the Norwegian Petroleum Directorate (NPD).

“The application volume has remained consistently high in recent years, and this demonstrates that the companies also prioritize exploration in mature areas during times with challenging cost and price regimes.”

NPD will assess the applicants’ geological concepts and strategy for exploring the areas.

Awards should be issued early next year.

9/22/2016

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