Norway Awards North Sea Exploration Licenses

Published March 26th, 2001 - 02:00 GMT

The Norwegian oil and energy ministry said on March 22nd that 11 international companies had been awarded North Sea oil and natural gas exploration licenses.  

 

The ministry indicated that the companies would be awarded licenses in 15 blocks or portions of blocks in conjunction with the North Sea awards, which were announced in September 2000.  

 

Norwegian Oil Minister Olav Akselsen said that: “The North Sea Awards 2000 is important for the long-term resource management on the Norwegian continental shelf.”  

 

He added that: “Carrying out this round will contribute to increased exploration activity, and may in the longer term give new fields developments.”  

 

A ministry statement indicated that Conoco Inc., Enterprise Oil Co., Phillips Petroleum Co., RWE-DEA and Statoil had received offers of operatorship in new areas.  

 

Agip, Aker Maritime, Chevron Corp., Enterprise, Exxon Mobil Corp., Fortum, Norsk Hydro and RWE-DEA have all received offers for participation in the blocks.  

 

The ministry also said that the State’s Direct Financial Interest (SDFI) was awarded a 30 percent share in one of the exploration licenses. 

(oilnavigator)  

© 2001 Mena Report (www.menareport.com)

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