Nominations for blocks which Statoil believes should be included in Norwayâs 19th offshore licensing round have been submitted to the Ministry of Petroleum and Energy today, 23 February.
Sent in on the final day for making such submissions, these proposals reflect the groupâs great faith in the Norwegian continental shelf.
Nominations from Statoil and other interested oil companies will help the ministry to decide which parts of the Norwegian and Barents Seas should be put on offer in the round.
Plans call for this acreage to be advertised in the summer, with new licences scheduled for award during the first quarter of next year.
âThe areas covered by this round could contain more than half the undiscovered resources on the NCS,â comments Tim Dodson, senior vice president for exploration in the Exploration & Production Norway business area.
He explains that Statoilâs nominations reflect its objective of actively pursuing further development in the Norwegian and Barents Seas.
The 19th round will give the group the opportunity to secure quality acreage, which is important for its continued commitment to the northern NCS.
Theoretically, 1,000 blocks are available for nomination in this part of the NCS.
Petroleum and energy minister Thorhild Widvey invited oil companies to propose blocks for inclusion in the 19th round on 14 October last year.
She said then that ensuring good access for the petroleum industry to new exploration acreage in immature areas will be crucial for future discoveries and developments.