Norway Announces Bid Round

Norway's petroleum and energy ministry announced May 2 this year’s licensing round for mature areas on the Norwegian continental shelf: awards in predefined areas (APA) 2017.

This is a "central pillar in the Norwegian government's petroleum policy," it said. APA 2017 is the second largest expansion so far, and the largest expansion yet in the Barents Sea. This is imperative for effective resource management, said the minister, Terje Soviknes (pictured below). "This expansion promotes effective resource management, high value creation and employment."

The predefined area has been expanded by 87 blocks, of which 34 are in the Norwegian Sea and 53 in the Barents Sea. The expansion includes blocks west in the Norwegian Sea and areas around Wisting, Alta and Gohta in the Barents Sea. Last week Norway said that Barents Sea oil and gas reserves were much bigger than previously thought, although the oil price might not be high enough to encourage their full exploitation.

A map showing the areas on offer in APA 2017 is available by clicking here.

(Credit: Government)

The application deadline for companies is noon, September 1, with the aim of awarding new production licenses at the beginning of 2018, it said.

William Powell