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OPERATORS APPLY FOR MORE ACREAGE IN NORWEGIAN WATERS

July 3, 1995

Nineteen oil companies have applied for exploration acreage in Norway's 15th round of offshore licensing. "Applications have been submitted for all areas that were announced," said Minister of Industry & Energy Jens Stoltenberg. "Interest has been especially focused in new exploration areas in the Voering and Moere basins in the Norwegian Sea." The ministry said deep water and lack of data on geology are major challenges in these westernmost parts of the Norwegian Sea. The challenge in

Nineteen oil companies have applied for exploration acreage in Norway's 15th round of offshore licensing.

"Applications have been submitted for all areas that were announced," said Minister of Industry & Energy Jens Stoltenberg. "Interest has been especially focused in new exploration areas in the Voering and Moere basins in the Norwegian Sea."

The ministry said deep water and lack of data on geology are major challenges in these westernmost parts of the Norwegian Sea. The challenge in Haltenbanken blocks closer to shore is efficient management of the resource base.

For North Sea acreage, the challenge is to phase in new production with infrastructure capacity

The ministry said negotiations with companies will start in early autumn, with a view to awarding production licenses around yearend.

Fifteenth round applicants include all major operators involved in exploration and production off Norway.