Norway received applications from 33 companies for its mature area licensing round, the offshore regulator Norwegian Petroleum Directorate said September 21.
“It is very positive that so many companies still believe that more oil and gas can be discovered on the most mature parts of the shelf. We have received many exciting applications,” said the exploration director at the NPD, Sissel Eriksen. However it said the number of applicants was "somewhat lower" than in last year's round. The awards will be made early next year.
ExxonMobil and Chevron, both producers offshore Norway and participants in earlier rounds, are absent from
the list of 33, but most other majors including BP, ConocoPhillips, Eni, Shell and Total are present as are several independents, although not this time Denmark's Maersk Oil. Earlier this week Wood Mackenzie reported that, with the oil price downturn,
majors in particular have become much more selective over exploration.
Companies have applied for acreage on the whole shelf, with the North Sea and the Norwegian Sea being more attractive than the Barents Sea.
“The APA scheme is important for maintaining the activity level and realising the values on the shelf. The application volume has remained consistently high in recent years, and this demonstrates that the companies also prioritise exploration in mature areas during times with challenging cost and price regimes.”
Now the work on the technical evaluation of the applications begins. The NPD is also evaluating the applicants’ geological concepts and strategy for exploring the areas.
At the application deadline of 6 September 2016, companies could apply for a total of 139,942 km², while the available area in APA 2015 was 127,608 km².
William Powell
