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UPDATE 1-Norway awards 69 oil and gas exploration blocks -NPD

Tue, 14th Jan 2020 12:12

(Adds detail)

By Nerijus Adomaitis

SANDEFJORD, Norway, Jan 14 (Reuters) - The Norwegian
government has awarded 28 oil and gas companies a total of 69
offshore blocks to explore for petroleum in mature areas of its
continental shelf, the Norwegian Petroleum Directorate said on
Tuesday.

It did not immediately name the winners. Thirty-three oil
companies had submitted bids by a September deadline for a total
of 90 offshore exploration blocks, including 48 blocks in the
Arctic Barents Sea.

While Norway's output is expected to rise sharply in the
next several years as recent large discoveries come on stream,
authorities are keen to extend the lifespan of the oil and gas
industry for decades to come.

The annual predefined areas (APA) licensing round covers
blocks adjacent to acreage previously explored or developed, as
opposed to licensing rounds in the country's frontier areas.

Still, the number of awards was lower than the record 83
that had been handed out in last year's APA round.
(Editing by Terje Solsvik and Gwladys Fouche)

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