Norway awards 47 oil and fuel exploration permits | Jobi Cool


SANDEFJORD, Norway, Jan 10 (Reuters) – Norway has awarded 47 new offshore oil and fuel exploration licenses to 25 firms in its newest licensing spherical for mature areas, the vitality minister mentioned on Tuesday.

“At present’s value is a vital contribution to making sure that Norway stays a safe and predictable provider of oil and fuel to Europe,” Oil and Power Minister Terje Aasland mentioned at an business convention in Sandefjord in southern Norway.

The federal government stays dedicated to sustaining industrial exercise on the Norwegian continental shelf, he mentioned.

Every of the 47 drilling permits – 29 within the North Sea, 16 within the Norwegian Sea and two within the Arctic Barents Sea – can have a number of homeowners.

Norway’s state-controlled vitality main Equinor ( EQNR.OL ) was the most important single recipient with a stake in 26 of the licenses, of which it is going to be the operator of 18.

Norway overtook Russia as Europe’s largest fuel provider final 12 months after Moscow lower off a lot of its provide.

Norway’s oil manufacturing is anticipated to rise 6.9% this 12 months, whereas fuel volumes are anticipated to stay unchanged close to file highs, the Norwegian Petroleum Directorate (NPD) mentioned on Monday.

Norwegian impartial oil firm Aker BP ( AKRBP.OL ) gained stakes in 16 licenses, of which they are going to function 9, whereas Eni’s ( ENI.MI ) Norwegian subsidiary Vaar Power ( VAR.OL ) gained stakes in 12 licenses, together with 5 operatorships.

Amongst different worldwide gamers, Germany’s Wintershall Dea gained shares in 11 licenses and would be the operator of three of them.

Norway’s pre-defined space awards (APAs) are licenses to probe for oil and fuel in mature areas.

Reporting by Nora Buli and Nerijus Adomaitis; enhancing by Terje Solsvik and Jason Neely

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