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Norway Launches 2018 Offshore Licensing Round

Source: www.gulfoilandgas.com 5/9/2018, Location: Europe

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The Norwegian Ministry of Petroleum and Energy is announcing this year’s licensing round in mature areas on the Norwegian continental shelf – Awards in Predefined Areas (APA) 2018.

Awarding acreage in mature areas in annual APA-rounds is an important part of the Norwegian Government's commitment to a stable and long-term petroleum policy, says Norwegian Minister of Petroleum and Energy, Mr. Terje Soviknes (Progressive Party).

In the APA 2018, the predefined area has been expanded by a total of 103 blocks - 47 blocks in the Norwegian Sea and 56 blocks in the Barents Sea. The expansion mainly includes blocks in the western part of the Norwegian Sea as well as areas east of the existing APA area in the Barents Sea.

Access to prospective exploration acreage is crucial in order to make new petroleum discoveries. New discoveries on the Norwegian continental shelf ensure value creation, employment and Government revenues. An important pillar of the Government's policy is to facilitate oil companies in a continued safe and effective exploration in Norway, Minister Terje Soviknes continues.

The application deadline for companies is 12 noon on September 4th, 2018. The aim is to award new production licenses in the announced areas in the beginning of 2019.

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