Content with 17th Round announcement
"We're pleased with the announcement, but competition will be tough because there were - relatively speaking - fewer blocks announced than nominated," says Torstein Dale Sjøtveit, Hydro's chief of Exploration and Production, Norway.
Blocks in the Nordland VI area were not included in the 17th Concession Round announcement. The authorities will first do a study on how continuous oil industry activities can impact seas from the Lofoten Islands and northward before any expansion of petroleum activities in the area is allowed.
"We acknowledge the fact neither the Nordland VI area or Møre are included in this announcement," says Sjøtveit.
The 17th Round does include both deep water tracts and blocks closer to the coastline in the Norwegian Sea. Applications have been invited for a total of 32 blocks or parts of blocks.
The application deadline for the 17th Concession Round is March 18, 2002. The award of new offshore licenses is expected to take place during the second quarter of 2002.
The following blocks or parts of blocks have been announced: