Norway’s Ministry of Energy has announced the awarding of 53 production licences on its continental shelf as part of the APA 2024 round. This process, organised annually since 2003, aims to facilitate exploration in mature areas to ensure a stable energy supply to Europe.
The approval of more than 50 licenses for oil exploration
Of the new licences, 33 are located in the North Sea, 19 in the Norwegian Sea and one in the Barents Sea. In total, 20 oil companies have been selected to participate in oil and gas exploration and production.
Energy Minister Terje Aasland stressed the importance of these activities: “The continued development of the Norwegian continental shelf is important for employment, value creation and the domino effect of oil activities on the continent in the future. We need new discoveries to ensure that Norway can remain a stable and predictable supplier of oil and gas to Europe. It is therefore very positive to see so much interest in new exploration areas. ”.
Companies notable in the awarding process include Equinor Energy AS , with 27 licences, and Aker BP ASA , with 19. All licences are linked to specific work programmes, ensuring efficient resource exploration and extraction.
The expansion of the areas available in the APA round responds to the need to optimize Norway’s natural resources, allowing a balance between exploration and sustainability. This effort ensures that companies have predictability in their planning and execution.
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Source and photos: Regjeringen.no
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