Withdrawn blocks overshadow Norwegian licensing round launch
Oil and gas lobby group expresses regret over omitted Barents Sea acreage
Oil watchdog the Norwegian Petroleum Directorate (NPD) has fired the starting pistol on the Awards in Predefined Areas (APA) 2022 licensing round. But while the NPD hailed a 28-block expansion compared with APA 2021 in the Arctic Barents Sea, attention was focused on three blocks not included in the round “We are disappointed that blocks will be withdrawn at the next APA,” says lobby group Norwegian Oil & Gas. “We are in the middle of an energy crisis where Europe must get rid of all Russian gas. At the same time, the EU asks Norway to supply as much gas as possible. Then it is an unfortunate signal to withdraw exploration areas on the Norwegian [continental] shelf [NCS].” “The blocks
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks