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Strong interest in further exploration on the Norwegian Shelf
The Norwegian Ministry of Petroleum and Energy offered 53 new production licenses on the Norwegian Continental Shelf (NCS) in its latest license round APA 2021.
Awards in predefined areas (APA) cover exploration in the most mature areas on the NCS. Some 28 production licences are distributed over the North Sea, 20 in the Norwegian Sea and five in the Barents Sea. Some 28 different oil companies, ranging from large international companies like Equinor (26 shares, 12 operatorships), Norske Shell (2/1), Chrysaor (4/1) and Aker BP (15/7) to smaller Norwegian exploration companies, have been offered shares in one or more licences.
Equinor has been awarded 26 new production licences – 12 licences as operator and 14 licences as partner. ‘We believe in the NCS and that there is still substantial value to find and develop,’ said Jez Averty, Equinor’s Senior Vice President for subsurface in Exploration & Production Norway.
‘We continue an active exploration strategy but focus on maximising value creation over growth and volume. At least 80% of our exploration resources and investments will be concentrated around existing infrastructure – so-called near field or infrastructure-led exploration,’ said Averty. Focus on mature areas of the NCS with infrastructure in place is seen to minimise risk, with ‘high profitability, short payback period and low CO2 emissions,’ he remarked.
In 2022, Equinor plans to drill about 25 exploration wells, mainly near existing infrastructure, mostly in the North Sea, some in the Norwegian Sea and a few in the Barents Sea.
Lundin Energy Norway has been awarded interests in 10 exploration licences in the 2021 APA licensing round, including six licences in the North Sea, three licences in the Norwegian Sea and one licence in the Southern Barents Sea. Five of the licences will be operated by Lundin Energy Norway.
Eni, through Vår Energy, jointly owned by Eni and HitecVision, will participate in 10 licences as a result of the APA 2021 award. Vår Energi has been granted five operatorships and five partnerships in licences over the three main oil and gas provinces in the NCS including the Barents Sea.
Wintershall Dea has been awarded seven exploration licences in the annual APA round, including four as operator.
Johan Sverdrup Phase 2 riser platform sails away from Aker Solution Stord, July 2021
Photo: Equinor/Jan Arne Wold
