Oil&Gas: Awards in the 20th Licensing Round
The Ministry of Petroleum and Energy has announced the awards of 21 new production licenses in the 20th Licensing Round, saying it is an important contribution to new industrial activity and jobs at a time when Norway is in the middle of a serious economic situation.
“The licensing round is also part of the effort to increase petroleum activities in the northern areas of Norway. The awards will contribute to a steady level of activity on the Norwegian Continental Shelf and counteract future production decline, thereby maintaining the important role of Norway as a reliable and predictable supplier of energy,” says Minister of Petroleum and Energy Terje Riis-Johansen.
The awards in the 20th licensing round comprise 9 new production licenses in the Barents Sea and 12 new production licenses in the Norwegian Sea. The Government puts great weight on important environmental and fisheries concerns. The conditions relating to environmental and fisheries concerns has therefore been strenghtened. In some block there have been introduced time restrictions on seismic surveys.
The decition process on the 20th licensing round has run parallell to the work with the new management plan for the Norwegian Sea. The management plan will be put forward soon and the awards are in line with the new management plan.
“It is important to impose strict conditions relating to environmental and fisheries concerns to the companies recieving awards in the 20th licensing round. Block-specific conditions with among others time restrictions on exploration wells and seismic surveys will balance environmental, fisheries and petroleum concerns in a good way,” says Riis-Johansen.
34 companies are offered participating interests in production licenses, and 15 companies are offered operatorships in the 20th licensing round. One company, North Energy AS, are offered its first operatorship on the Norwegian continental shelf.
“It is positive for the diversity on the NCS that North Energy has proved competitive for operatorships in the 20th licensing round. Originating in northern Norway, North Energy can make an important contribution to developing petroleum activity in the region, says Riis-Johansen
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