Seven oil companies have offered offshore land in
Credit: Ministry of Petroleum Norway
Norway has offered seven oil companies the ownership of four offshore production licenses as part of its 25th licensing round. One permit is located in the Norwegian Sea and three in the Barents Sea.
The oil companies that have been offered the permit are Shell, Equinor, Idemitsu Petroleum Norway, INEOS E&P Norway, Lundin, OMV and Vår Energi.
The 25th license cycle was announced on November 19, 2020. The application deadline was February 23, 2021.
Companies could apply for licenses in nine different areas; eight in the Barents Sea and one in the Norwegian Sea.
After the application deadline, the authorities assessed the applications and negotiated with the companies concerned the possible areas and a binding work program.
The following companies have been offered shares (shares / exploitation), as shared by the country’s Ministry of Petroleum and Energy:
A / S Norske Shell (1/0)
Equinor Energy AS (2/2)
Idemitsu Petroleum Norge AS (1/0)
INEOS E&P Norge AS (1/1)
Lundin Energy Norway AS (2/0)
OMV (Norway) AS (1/0)
Vår Energi AS (1/1)