Equinor, Vår Energi, and Aker BP biggest winners in Norway’s latest offshore round

Three Norwegian oil and gas majors – Equinor, Vår Energi, and Aker BP – have been awarded the largest number of new offshore production licenses as part of Norway’s latest licensing round, the APA 2019.

Source: Equinor

Equinor, Vår Energi, and Aker BP were awarded 23, 17, and 15 licenses, respectively, during the APA 2019 announced on Tuesday. Equinor will operate 14 of the licenses, Vår Energi 7, and Aker BP 9.

Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK, said: “The award enables us to mature new prospects and prove profitable resources that can be developed within the scope of our new climate roadmap for the Norwegian continental shelf (NCS).

Ashton added: “Our infrastructure-led exploration on the NCS has been successful for many years. This provides a good basis for high profitability and a low carbon footprint. In addition, we are actively pursuing new ideas in selected areas that meet the same criteria. This applies to the North Sea, as well as the Norwegian Sea and the Barents Sea, where we see potentials in the Castberg, Wisting, Goliat and Snøhvit areas. We are pleased with the opportunities that today’s award by the Ministry of Petroleum and Energy provides.”

Vår Energi CEO, Kristin F. Kragseth, said: “The new licenses are located in promising areas of the NCS, and are of strategic significance to us. The positive results reinforce our position as one of the majors on the Norwegian continental shelf.”

“The result will provide us with many exciting new opportunities,” said Vår Energi VP Exploration, Denis Palermo.

Evy Glørstad, Senior Vice President Exploration in Aker BP, said: “There are several interesting growth opportunities in the licenses awarded to Aker BP today.”

Offshore Energy Today Staff

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