Norway invites for new petroleum licenses nominations

Oct 18, 2004 02:00 AM

Norway invited oil and gas companies to nominate blocks in the Norwegian Sea and Barents Sea -- "frontier areas" -- for the country's 19th licensing round, with licenses to be awarded in the first quarter of 2006.
"The deadline for nominations is 12 a.m. (1000 GMT) on February 23, 2005," the Oil and Energy Ministry said.

Norway is the world's third-biggest oil exporter, pumping almost 3 mm bpd. But production on the Norwegian shelf, where oil has been exploited since the 1960s, is beginning to taper off on mature fields.
"The reason that the North Sea is not included (in the 19th round) is that we consider it a mature area, whereas these big licensing rounds comprise frontier areas," oil ministry spokeswoman Sissel Edvardsen said.

The decision on which blocks to include in the 19th licensing round, to be announced before summer 2005, will be based partly on companies' nominations of the blocks they consider interesting, the ministry said.
Excluded areas include those already licensed, mature areas within the scope of a licensing for so-called "predefined areas", certain ecologically sensitive areas in the Barents Sea, coastal areas of the counties of Troms and Finnmark and the Nordland IV off the northern Lofoten islands.

Source: Aftenposten
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