Norway to Offer More Arctic Exploration Blocks

Thursday, March 14, 2019

Norway plans to expand the offshore oil and gas acreage offered to companies under its annual licensing round in so-called predefined areas (APA), oil minister Kjell-Boerge Freiberg said on Thursday.

The 2019 APA round will offer 90 new blocks, of which 48 are in the Arctic Barents Sea, 37 are in the Norwegian Sea and 5 in the North Sea, he said.

"It's important to maintain the positive development in exploration activity in the Barents Sea. I hope this will lead to robust field development solutions and increased value creation in the north," Freiberg said in a statement.

The annual APA rounds are primarily designed to offer new acreage that is located near existing or planned developments. They differ from Norway's other licensing rounds, which are held more rarely and offer blocks in unexplored, frontier regions.

Environmental groups and some opposition politicians, however, have criticised the government for its policy, arguing the APA rounds are used to expand exploration beyond mature areas of Norway's continental shelf.

Top explorers on the Norwegian continental shelf include Equinor, Aker BP and Lundin Petroleum , among others.


(Reporting by Nerijus Adomaitis, editing by Terje Solsvik and Susan Fenton)

Categories: Energy Geoscience Arctic Europe Government

Related Stories

US-Israel War on Iran Creates Biggest Energy Crisis in History

IEA Cuts Oil Demand, Supply Outlook Amid Iran War

Oil Rises as Fragile Middle East Ceasefire Sustains Supply Risks

Big Oil to Look Beyond Middle East as War Raises Risks

Asian Buyers Rush for Russian Oil Amid Supply Disruption

Iran War Sends LNG Prices Soaring, Curbing Asia Demand

Oil Rises as Iran Denies US Talks, Supply Risks Persist

IEA Weighs Further Oil Stock Releases as War on Iran Continues

Eni Advances Major Deep Water Gas Hubs with Dual FIDs

Eni Advances Angola Gas Project, Secures $9B Credit Facility

Current News

Saipem Poised for Middle East Repair Work After Iran War

Middle East Conflict Jolts Offshore Drilling Market

Bureau Veritas Expands Offshore Services with New Asia Hub

Valeura Charters Shelf Drilling’s Jack-Up Rig for Gulf of Thailand Ops

Oil Prices Jump as Ships Come Under Fire in Strait of Hormuz

US-Israel War on Iran Creates Biggest Energy Crisis in History

Jadestone Secures Gas Sales Deal for Fields Offshore Vietnam

Oil Flows to Lag Even if Hormuz Strait Reopens

Eni Makes Major Gas Discovery Offshore Indonesia

Strike Threat Grows at Ichthys LNG after Workers Reject Deal

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com