Very satisfied with 19th concession round awards

March 31, 2006, 14:00 CEST

The Ministry of Petroleum and Energy announced today that Hydro has been awarded two operatorships in the 19th concession round on the Norwegian Continental Shelf.

”Hydro is very satisfied with being awarded two operatorships with high ownership stakes in the Barents Sea. The awards in the Barents Sea form the basis for further exploration of this area. Hydro wants to play a leading role in the development of the Barents Sea,” says Senior Vice President in Development Norway, Lars Christian Alsvik.

Alsvik regards it as positive that the authorities have awarded the area of the Barents Sea that Hydro applied for in this concession round.

Hydro was awarded the following exploration blocks and operatorships:
7224/6 and 7225/4: 40 %
7124/6 and 7125/4 and 5: 30 %

See also:

Awards in the 19th Licensing Round