Energy companies can apply to explore for oil and gas in 36 new exploration blocks off Norway, the country's oil and energy ministry said June 19.
Western Europe's largest oil producer conducts regular licensing rounds to stimulate offshore oil exploration.
The so-called awards in pre-defined areas (APAs) are for zones already open to oil companies, in the North Sea, Norwegian Sea and Barents Sea. Results will be announced in first-quarter 2021, said the ministry.
Separately, Norway will soon launch its other licensing round, for brand new exploration areas, after parliament agreed this month on an extension of the so-called ice edge boundary to the constantly changing southern fringe of the permanent ice sheet.
Anything north of that line is considered off-limits for oil drilling.
Recommended Reading
Aramco Reports Second Highest Net Income for 2023
2024-03-15 - The year-on-year decline was due to lower crude oil prices and volumes sold and lower refining and chemicals margins.
Marathon Petroleum Sets 2024 Capex at $1.25 Billion
2024-01-30 - Marathon Petroleum Corp. eyes standalone capex at $1.25 billion in 2024, down 10% compared to $1.4 billion in 2023 as it focuses on cost reduction and margin enhancement projects.
Par Pacific Asset-based Revolving Credit Bumped Up by 55%
2024-03-25 - The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.
Prairie Acquiror Announces Offering of $400MM Senior Notes
2024-02-21 - Prairie Acquiror intends to use the notes offering to refinance outstanding debt under its existing term loan credit facility.
Shell’s CEO Sawan Says Confidence in US LNG is Slipping
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.