Norway offers 136 offshore tracts, will award licenses in first quarter

Norway has launched its 25th licensing round encompassing 136 blocks in the Norwegian Sea and the Barents Sea.

Applications for the round are due Feb. 23, 2021. Awards are expected during first-quarter 2021.

The Ministry of Petroleum and Energy said a recent resource report showed substantial undiscovered resources remain in all areas on the Norwegian Continental Shelf and that companies will have access to acreage that has not yet been available in annual APA rounds.

“The announced acreage features a broad range of exciting plays that, so far, have not been extensively explored,” said Torgeir Stordal, the agency’s director of exploration.

An invitation to apply for petroleum production licenses, an updated map of the announced blocks, regulatory requirements and more information was posted on the Norwegian Petroleum Directorate website.