Norwegian Shelf Licensing Round offers up 79 blocks for bids

Nov 03, 2008 01:00 AM

The Norwegian Petroleum has announced that 79 blocks or parts of blocks are available in one of the largest licensing rounds ever.
"I want to ensure the continuation of our welfare society in the future by preserving the opportunities for making new discoveries, boosting activity and value creation on the Norwegian shelf. The announced blocks represent a balanced solution with emphasis on the environment and fishery interests," said Minister of Petroleum and Energy Terje Riis-Johansen in connection with the announcement.

In this licensing round, the Government has chosen to announce 51 blocks in the Norwegian Sea and 28 blocks in the Barents Sea.
The preparations for this round started back at the end of October in 2007 when the Ministry of Petroleum and Energy (MPE) invited the oil companies to nominate blocks they believed should be included in the announcement. The nomination deadline expired on January 15, 2008.

Source / Norwegian Petroleum Directorate
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