A total of 34 oil companies including large international majors and small exploration firms have been awarded ownership stakes in one or more licenses under the Pre-Defined Areas (APA) 2017 round.
Of the 75 exploration licenses, 45 are in the North Sea, 22 in the Norwegian Sea and eight are in the Barents Sea.
Norwegian Petroleum and Energy Minister Terje Soeviknes said: “The number of licenses is the highest ever awarded in a licensing round on the Norwegian continental shelf. Access to new, prospective exploration acreage is a central pillar in the government’s petroleum policy.”
The 19 companies which were awarded with one or more operatorships for the production licenses include A/S Norske Shell, Aker BP, ConocoPhillips, Engie, Faroe Petroleum, INEOS, Lundin, MOL, OMV, Petrolia, Point, Repsol, Spirit, Statoil, Suncor, Total, VNG, Wellesley, and Wintershall.
Soeviknes added: “Our licensing policy enables the oil companies in making the discoveries we need to create future activity and employment opportunities, achieve effective resource management, high value creation and the financing of the welfare state, Minister Søviknes continues.”
Statoil has been offered interests in 31 exploration licenses on the Norwegian continental shelf including 17 as operator and 14 as a partner.
The Norway's Ministry of Petroleum and Energy said that the latest APA licensing rounds cover the most explored areas on the Norwegian shelf.
"Minor discoveries will not be able to carry standalone developments, but may have good profitability when they can exploit existing and planned processing equipment and transportation systems, or be seen in context with other discoveries or planned developments."
Image: The Transocean Spitsbergen drilling rig at sea. Photo: courtesy of Kenneth Engelsvold/Statoil ASA.
