New licensing round on the Norwegian shelf

Minister of Petroleum and Energy Tord Lien ( Progress Party )Minister of Petroleum and Energy Tord Lien ( Progress Party ).Photo: Vidar Ruud / NTB scanpix

The government opened Monday for nominations for the blocks to be included in the 24th licensing round. The goal is to announce the licensing round before the summer next year.

It could mean that the actual allocation of these areas will take place in 2018.

The numbered licensing rounds include the opened, immature parts of the Norwegian continental shelf, where the potential for large discoveries is greatest.

In the Barents Sea, there will be extensive exploration activity in the coming years in an area that is already awarded. Here, the objective of gradual exploration is the basis for 24th licensing round, according to MPE.

The Ministry also opens for nominations in the Norwegian Sea and the North Sea.


Source: NTB scanpix / Norway Today