Norway has offered investors a 56 oil blocks on your shelf

Norway has offered investors a 56 oil blocks on your shelf


Moscow. March 17. The Ministry of petroleum and energy of Norway has identified a list of units to investors in the next round of granting licenses for the right to develop resources in previously designated areas (APA) of the continental shelf, said in the message Department.

In particular, investors will be proposed 24 units on the shelf of the Norwegian sea and 32 blocks on the shelf of the Barents sea.

Applications for participation are accepted till the sixth of September 2016. The winners will be announced in the first quarter of 2017.

In the previous round of licensing investors were offered 27 blocks offshore in the North sea, 24 – Norwegian sea and five in the Barents sea. Applications for participation filed 43 companies. Among them, 37 companies will be offered a share in at least one license.

Within the licensing rounds APA (Awards in Predefined Areas) exhibited the blocks that are in the vicinity of already existing fields with their infrastructure. So stimulated the search for small fields to maintain production levels.

Rosneft and LUKOIL already have on the Norwegian continental shelf license and maintain an interest in new areas. So, according to the results of the 22nd licensing round, Rosneft has received a 20 percent stake in the license PL713 in the Norwegian Barents sea, will develop the parcel as a partner, the Norwegian Statoil. LUKOIL has received 20% in the license PL708. The operator of the project was the Swedish Lundin Petroleum, and another 20% of Italian Edison and North Energy Norwegian.