Norway: Ministry of Petroleum Offers 72 Barents Sea Blocks
- Business & Finance
Today, 26 June, the Ministry of Petroleum and Energy (MPE) has announced the 22 nd licensing round on the Norwegian continental shelf.
Eighty-six blocks/parts of blocks are being announced in this round; 14 in the Norwegian Sea and 72 in the Barents Sea.
“The interest in exploring in the Barents Sea has increased considerably after Statoil and the licence partners found oil and gas on “Skrugard” (7220/8-1) in 2011. More exploration is now taking place throughout the southern Barents Sea, and there is renewed optimism and expectation of discoveries. This licensing round will contribute to maintaining the activity level in this area and to clarifying the resource potential in the Barents Sea,” says Sissel Eriksen, exploration director in the Norwegian Petroleum Directorate.
When the deadline for nominating blocks expired on 11 January, 37 companies had nominated a total of 228 blocks or parts of blocks in the 22nd licensing round. 107 of these blocks were nominated by two or more companies.
The application deadline is 4 December 2012, and the awards will take place in before the summer 2013.
Press Release, June 26, 2012