Wednesday 11 January 2023

The Ministry of Petroleum and Energy is offering 47 new extraction permits on the Norwegian continental shelf in the TFO 2022 licensing round.

- I am proud to be able to offer 47 new extraction permits in this year's TFO round to a wide variety of companies. Further exploration activity and new discoveries are important to maintain the production of oil and gas over time, both for Norway and Europe, says Oil and Energy Minister Terje Aasland (Ap).

Allocation in predefined areas (TFO) is an annual search round in the most mature areas on the Norwegian continental shelf. The 47 extraction permits that are being offered in this year's round are spread across the North Sea (29), the Norwegian Sea (16) and the Barents Sea (2). A total of 25 different oil companies, from the large international companies to smaller Norwegian exploration companies, are offered shares in one or more of these permits. 12 companies are offered one or more operatorships. A binding work program is linked to all permits.

- The annual allocation of exploration area is a pillar in facilitating a stable level of activity on the continental shelf and in achieving the main goals of the government's petroleum policy. The petroleum sector is a highly productive industry that contributes large revenues, value creation and jobs. Today's area allocation is also an important contribution to ensure that Norway remains a safe and predictable supplier of oil and gas to Europe, says Aasland.