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Det norske Awarded Six New Licences

Source: www.gulfoilandgas.com 1/21/2014, Location: Europe

Det norske oljeselskap ASA has been awarded six new licences, of which two as operator. Det norske is very pleased with the awards.

The Ministry of Petroleum and Energy announced the awards of new production licences in mature areas on the Norwegian Continental Shelf (APA 2013). A total of 48 companies were awarded ownership interests in 65 new production licences, 29 of these companies will be offered operatorships.

Det norske is very pleased with the awards, says Project Manager Evy Glorstad-Clark:
To be awarded ownership interests in six licences is a firm vote of confidence from the Ministry. We are especially pleased to have been awarded the operatorship in our first priority. This will strengthen our position in our established core areas.

It was possible to apply for a total of 103 029 square kilometres in this APA licensing round, divided into 377 blocks, or parts of blocks. The acreage in the Norwegian Sea was extended by six blocks located in the area surrounding Aasta Hansteen when compared to APA 2012. In addition, acreage has been relinquished within the APA area during the last year; this has been included in the acreage the companies could apply for in this round.

The awards in pre-defined areas, also known as mature areas, enable many new companies to explore areas that have been open for exploration for several years. This applies to areas on the entire shelf; the North Sea, the Norwegian Sea and the Barents Sea.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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