‘Profitable’ discoveries on the cards: 20 firms keen on exploring Norway’s oil & gas potential

September 4, 2025, by Melisa Cavcic

As countries work on strengthening their energy security with more oil and gas, 20 companies have shown interest in production licenses offered as part of the award in pre-defined areas 2025 (APA 2025) licensing round related to further hydrocarbon exploration activity on the Norwegian Continental Shelf (NCS).

Troll A platform on the NCS; Credit: Øyvind Gravås and Even Kleppa/Equinor

Norway’s Ministry of Energy announced APA 2025 in May 2025, encompassing the predefined areas with blocks in the North Sea, Norwegian Sea, and Barents Sea. However, the predefined areas were expanded by 68 blocks in the Barents Sea and 8 blocks in the Norwegian Sea since APA 2024. The deadline for application submissions was September 2, 2025.

While noting that interest in exploration on the NCS remains high, the Norwegian Offshore Directorate confirmed the receipt of applications from 20 companies in the AP 2025 licensing round, which were submitted by the majority of companies active on the Norwegian Continental Shelf, reaffirming considerable interest in exploration near existing fields and infrastructure.

‘Larger’ slice for oil & gas exploration on Norway’s new offshore licensing menu

Authorities & Government

Kalmar Ildstad, Director of Regulations, Licence and Area Management at Norwegian Offshore Directorate, remarked: “It is encouraging to see that there is still significant interest in exploring new acreage in mature areas of the Norwegian Continental Shelf. The interest spans all sea regions, which demonstrates that there are many opportunities to make profitable discoveries from the south to the north of the shelf.”

The list of companies that applied for the offered areas entails Aker BP, Concedo, ConocoPhillips Skandinavia, DNO Norge, Equinor, Harbour Energy Norge, INPEX Idemitsu Norge, Japex Norge, Lime Petroleum, OKEA, OMV Norge, ORLEN Upstream Norway, Pandion Energy, Petrolia NOCO, Repsol Norge, Source Energy, Sval Energi, TotalEnergies EP Norge, Vår Energi, and Wellesley Petroleum.

As the Norwegian Offshore Directorate works to evaluate the received applications, with an emphasis on geological comprehension and plans for exploration, the authorities aim to award new production licenses in early 2026.

Terje Aasland, Norway’s Minister of Energy, highlighted: “Exploration and new discoveries are crucial for jobs and value creation. It is important that companies explore so that petroleum activities can be further developed.

“It is therefore gratifying to see that there is still great interest and that companies have faith in the opportunities that lie in further exploration on the Norwegian Continental Shelf. This will enable Norway to continue to be a stable and predictable oil and gas supplier to Europe.”