World of oil and gas

Norway’s Ministry of Petroleum and Energy has announced the nation’s 23rd licensing round. The round consists of 57 blocks, or parts of blocks. These are distributed with 34 blocks in the southeastern Barents Sea (the formerly disputed area toward Russia), 20 blocks in other parts of the Barents Sea and three blocks in the Norwegian Sea. The government aims to award new production licenses in the first half of 2016. “By initiating petroleum activity in the southeastern Barents Sea, we reach yet another milestone for Norwegian petroleum activities. For the first time since 1994, we will explore an entirely new area on the Norwegian Shelf. This will generate unique possibilities for value creation, growth and employment opportunities, particularly for Northern Norway,” said Norwegian Minister of Petroleum and Energy Tord Lien. The deadline for applications is Dec. 2, 2015.

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