The Norwegian Ministry of Petroleum and Energy has announced that it has offered Norske Shell, Equinor (NYSE: EQNR), Idemitsu Petroleum Norway, Ineos E&P Norway, Lundin, OMV (Norway), and Var Energi four production licenses as part of the 25th licensing round.
One of the licenses is located in the Norwegian Sea and the other three are situated in the Barents Sea. Equinor received two operatorships, with Ineos and Var Energi receiving one each. The 25th licensing round was announced on November 19, 2020, and had an application deadline of February 23, 2021. After the deadline, authorities assessed applications and negotiated with the relevant companies about possible areas and a binding work program.
“The 25th licensing round and the annual APA rounds facilitate exploration and activity on the Norwegian shelf,” the Norwegian Minister of Petroleum and Energy, Tina Bru, said in a government statement.
“This is important for employment and value creation in the Norwegian oil and gas industry. The allocations are in line with the goals we presented in the white paper Energy for Work. They are also an important part of the framework conditions for the companies on the Norwegian shelf,” Bru added in the statement.
Commenting on the latest licensing round results, Jez Averty, a senior vice president for subsurface at Equinor, said, “we are pleased with the award”.
“A steady access to acreage contributes positively to the development of the Norwegian Continental Shelf. This award brings opportunities for exploring volumes near planned infrastructure,” he added.
“We prioritize exploring for resources that meet our requirements both for profitability and reduced carbon emissions,” he went on to say.
Norway’s energy white paper explored the long-term value creation from Norwegian energy resources, according to the Norwegian government’s website, which adds that the paper sets out how Norway can use its energy resources to create continued economic growth and new jobs.
To contact the author, email andreas.exarheas@rigzone.com
No comments:
Post a Comment