Norway's Licensing Round Attracts 33 Players

Norway has received bids from 33 companies in its APA 2019 licensing round, the Norwegian Petroleum Directorate (NPD) reported on September 4.

While the number of offers is down from the tally of 38 submitted in last year’s APA contest and 39 in 2017, the NPD said it still highlighted “continued significant interest in exploration in mature areas.”

The deadline for applications passed on August 27, and results will be revealed in early 2020. The acreage on offer comprised 48 blocks in the Barents Sea, 37 in the Norwegian Sea and five in the North Sea.

“Interest in the Norwegian Sea and the Barents Sea is comparable to APA 2018, while there is a small decline in the North Sea,” the NPD said.

Many of the companies already active on the shelf took part in the round. The participants ranged from large international players such as US giant ConocoPhillips and France’s Total to independents like Aker BP, Lundin Norway, Wintershall Dea and DNO to junior explorers such as M Vest Energy and Lime Petroleum. A number of relatively new entrants also filed bids, including Chrysaor, Spirit Energy, Okea, Pandion Energy and Rosneft subsidiary RN Nordic Oil.

“Predictable and stable framework-conditions and an active licensing policy are two of the main pillars in the government’s petroleum policy,” Minister Kjell-Borge Freiberg said in a separate statement.

“We have continued to expand the APA-area considerably based on professional advice,” he went on to say. “The high interest in the licensing rounds over the last few years shows that the NCS is competitive, and that the government's petroleum policy has the desired effect.”