NPD: Record Number of Applications in APA 2014
- Business & Finance
At the end of the application deadline for awards in predefined areas (APA) 2014 on the Norwegian shelf, the authorities have received applications from 47 companies.
“It is positive to see so many companies with faith in the TFO areas,” says Sissel Eriksen, exploration director in the Norwegian Petroleum Directorate (NPD).
After several oil and gas discoveries were made in the Norwegian Sea in the last year, confidence in new opportunities in the area has grown. The APA scheme helps maintain the activity level and realise the value potential on the shelf.
The NPD will now start evaluating the applications.
“We are looking for the best applicants, companies with good knowledge, new geological concepts and the best strategy for exploring the areas,” says Eriksen.
A total acreage of 109 205 km2 was open for applications this year. Since APA 2013, the predefined areas (APA areas) have been expanded by six blocks in the Norwegian Sea and three blocks in the Barents Sea.
In APA 2013, the authorities received applications from 50 companies for available acreage totalling 103 029 km2. Of this, 18 136 km2 was awarded in early 2014.
APA 2014 was announced on 3 April 2014 and the awards will most likely take place in early 2015.
Press Release, September 11, 2014