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Share Price: 483.00
Bid: 481.65
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Change: 0.45 (0.09%)
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Open: 479.30
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UPDATE 1-Norway awards 56 oil and gas licences in mature areas

Tue, 19th Jan 2016 14:54

* 36 companies awarded stakes to explore in mature areas

* Strong interest in Norwegian Sea

* Next licence round in mature areas to be announced beforeEaster (Recasts, adds quotes, details)

SANDEFJORD, Norway Jan 19 (Reuters) - Norway's oil ministryawarded 56 oil and gas exploration licences in mature areas onTuesday in a move to boost activity for the industry hit by lowcrude prices.

A total of 36 companies were awarded stakes to explore inthe mature areas, or areas already opened for exploration.

Petroleum and Energy Minister Tord Lien said the round, of Awards in Pre-defined Areas (APA), was "among the largest everawarded on the Norwegian Continental Shelf."

"It will contribute to activity both in the oil companiesand in the supply industry as exploration progresses, wells aredrilled and discoveries are made," he said in a statement.

Separately, he told an industry conference that the 56licences comprised 27 in the North Sea, 24 in the Norwegian Seaand five in the Barents Sea.

Sissel Eriksen, Director of exploration in the NorwegianPetroleum Directorate, said the number of applications hadremained fairly constant in recent years and that there had beenconsiderable interest in the Norwegian Sea.

"Many of these areas have existing fields that are nearingthe end of production, with infrastructure that can beexploited. It is therefore important that we explore thesurrounding areas so that potential resources are not lost", shesaid in a statement.

The biggest winner was Statoil with 24 licences,including 13 operatorships while Det norske oljeselskap came in second with 10 licences and 6 operatorships.

Others to win operatorships include Lundin,Eni, ConocoPhillips, Total, BP and Wintershall.

Lien said the ministry also planned to launch a newlicencing round in mature areas before Easter this year forsimilar awards in pre-defined areas next year.

For full list: https://www.regjeringen.no/en/aktuelt/apa-2015-considerable-interest-in-further-exploration-of-the-norwegian-continental-shelf/id2470979/

(Reporting by Stine Jacobsen and Joachim Dagenborg, writing byHenrik Stoelen, editing by Alister Doyle)

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