Today the Ministry of Petroleum and Energy is announcing the 22nd licensing round, which includes 86 blocks or parts of blocks in the Norwegian Sea and Barents Sea. These include 72 blocks in the Barents Sea and 14 blocks in the Norwegian Sea. The announcement forms the basis for awarding new production licences before summer 2013.
The 22nd licensing round will contribute to maintaining exploration activity in immature parts of the Norwegian continental shelf, and form the foundation for new, long-term activity and value creation.
“We are experiencing record-breaking interest in the Barents Sea. With 72 of a total of 86 announced blocks, the Barents Sea emerges as the sea of possibilities in the 22nd licensing round. The exploration results from here have been quite uplifting, and I am now giving the industry access to new areas in connection with these discoveries,” says Minster of Petroleum and Energy, Ola Borten Moe.
In addition to the 72 blocks in the Barents Sea, 14 blocks will also be announced in the Norwegian Sea. The announcement is in line with the framework stipulated by the management plans for petroleum activity.
“The 22nd licensing round is a new, important step in the work to facilitate long-term activity in Norway’s most important industry. Together with improved recovery from existing fields, development of discoveries and opening new area, further exploration of open area is one of the main elements in the Government’s work to achieve such a development and thus create further growth and secure jobs across the nation,” says Ola Borten Moe, Minister of Petroleum and Energy.