Norway: Encouraging signs

After some poor exploration results and disappointing levels of interest in recent licensing rounds, the deep-water-focused 18th round seems to have rekindled interest in the Norwegian offshore, writes Cris Heaton

NORWAY'S faltering offshore sector received a boost with the well-received 18th licensing round awards earlier this year. The round focused mainly on deep-water areas in the Norwegian Sea, where substantial reserves—principally gas—are said to lie, and companies expressed satisfaction that most of their preferred blocks were opened for bidding. Deep-water prospects look increasingly important to the Norwegian oil and gas sector, which has recently suffered from poor exploration results in more mature areas. Estimates of yet-to-find reserves, while not putting the region in the deep-water elite league, are still worth the attention of the big players. The Norwegian Petroleum Directorate (NPD)