On 16 January 2024, 24 companies were offered ownership interests in a total of 62 production licences on the Norwegian shelf in awards in pre-defined areas (APA) 2023. This is an increase compared with the three previous years.
The authorities reviewed applications from a total of 25 companies in the autumn of 2023. Of these 62 production licences, 29 are in the North Sea, 25 in the Norwegian Sea and eight in the Barents Sea. 16 of the production licences are additional acreage for existing production licences.
"We can see that the companies still have plenty of faith in making more discoveries in areas with familiar geology and close to existing infrastructure. It's important to prove resources so that available capacity in established process plants and pipeline systems can be utilised. This means that even small discoveries can yield significant value creation," says Director licence management in the Norwegian Offshore Directorate, Kalmar Ildstad.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/17012024/norwegian-offshore-directorate-24-companies-offered-ownership-interests-in-production-licences/