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Licences for petroleum exploration off the Norwegian coast granted

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A total of 30 oil and gas firms have received offers of ownership interest as part of 61 production licences granted for work off the Norwegian coast.
The Norwegian authorities have assessed applications from a total of 33 companies for projects in the Norwegian Shelf as part of the Awards in Predefined Areas (APA) 2020 process.
Of the 61 production licences, 34 are in the North Sea, 24 are in the Norwegian Sea and three are in the Barents Sea. 12 of the production licenses are additional acreage to existing production licences.
“This year’s award of 61 new production licences to as many as 30 companies shows that the petroleum industry still has significant expectations of making profitable discoveries on the Norwegian Shelf,” said director licence management in the Norwegian Petroleum Directorate, Kalmar Ildstad.
“It’s positive that the companies are showing significant interest in exploring in areas with known geology, and close to existing infrastructure.”
The player landscape in this APA award is very diverse. Both small companies and major international players are being offered exploration acreage.
Equinor has been awarded 17 new production licences by Norway’s Ministry of Petroleum and Energy as part of the APA – 10 licences as operator and seven licences as partner.
“We are pleased about the awards that will be an important supplement to our exploration portfolio and form the basis for future discoveries to be realized in line with Equinor’s climate roadmap,” added Nick Ashton, Equinor's senior vice president for exploration Norway.