World of oil and gas

At the end of the application deadline for “awards in predefined areas (APA) 2014,” on the Norwegian shelf, authorities had received applications from 47 companies. After several oil and gas discoveries were made in the Norwegian Sea during the last year, confidence in new opportunities in the area has grown. The APA scheme helps maintain the activity level and realize the shelf’s value potential. The Norwegian Petroleum Directorate (NPD) will now start evaluating applications. “We are looking for the best applicants, companies with good knowledge, new geological concepts and the best strategy for exploring the areas,” said Sissel Eriksen, NPD’s exporation director. Acreage totaling 109,205 km2 was open for applications this year. Since APA 2013, the APA areas have been expanded by six blocks in the Norwegian Sea and three blocks in the Barents Sea. For APA 2013, NPD received applications from 50 companies for acreage totaling 103,029 km2. Of this, 18,136 km2 were awarded in early 2014.

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