Tuesday 19 June 2018

On 18th June, the Ministry of Petroleum and Energy offered 12 new production licences to 11 companies in the 24th licensing round. Three licences are in the Norwegian Sea and nine licences are offered in the Barents Sea.

Nine production licences are being offered in the Barents Sea. These are in geological provinces that have been subject to less exploration until now. Two of the new licences are additional acreage to existing production licences.

The 24th licensing round was announced 21st June last year. The Ministry of Petroleum and Energy announced 102 blocks/parts of blocks, of which 9 were in the Norwegian Sea and 93 in the Barents Sea. Nearly half of this acreage is now included in the offers issued today; all 9 blocks in the Norwegian Sea and 38 blocks in the Barents Sea.