Cool response to 18th round

ONLY 14 of the 25 companies invited to nominate blocks for inclusion in the 18th licensing round did so, by last month's deadline. The less-than-enthusiastic response led to claims that the acreage available was insufficiently attractive, in view of the country's comparatively high tax take - countered by expressions of satisfaction by the energy minister, Einar Steensnæs. The ministry says two or more companies nominated 43 blocks or part-blocks and that their nominations would be given weight in deciding what acreage to offer in the round. As a result of the low number of nominations, the 18th round could be the smallest in the country's recent history. In the 17th round, 93 blocks or part