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Norway licenses 4 new oil and gas fields

Norway has granted licenses to seven companies for exploration and production in 4 new oil and gas fields in its territorial waters.

The Norwegian Ministry of Petroleum and Energy announced that it has granted 4 new oil and natural gas exploration licenses in the border parts of the Norwegian Continental Shelf (NCS), which is thought to be home to large reserves, with its 25th license round.

According to the statement, one of the licensed sites is in the Norwegian Sea and three are in the Barents Sea.

7 COMPANIES LICENSED

After evaluating the proposals, the Ministry granted share and/or operating licenses to seven companies, namely Shell, Equinor, Idemitsu Petroleum Norway, INEOS E&P Norway, Lundin, OMV (Norway) and Vaar Energi.

Equinor will operate two of the 4 licenses, Vår Energi and INEOS, mostly owned by Italian Eni, will each operate one license.

News2Sea

The opinions expressed herein are the author’s and not necessarily those of News2Sea.



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