World of oil and gas ///

The application deadline for licenses in Norway’s 23rd licensing round expired in December, with 26 companies applying for acreage. This round comprises 57 announced blocks or parts of blocks, three of which are in the Norwegian Sea and 54 in the Barents Sea. Thirty four of the announced blocks are situated in the newly opened area of the southeastern Barents Sea, and many of the applications target this acreage in particular. “It is good to see that so many competent companies want to explore in new acreage, during a time when we are experiencing low oil prices and substantial cost cuts,” said Sissel Eriksen, the Norwegian Petroleum Directorate’s exploration director. Norway’s Ministry of Petroleum and Energy plans to award the new licenses sometime before the summer of 2016.

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