Norway offers 34 licenses on mature shelf

Uchenna Izundu
International Editor

LONDON, Dec.19 -- Norway has offered 34 production licenses to oil companies on the mature part of the Norwegian continental shelf under its Awards in Predefined Areas (APA) program for 2008.

The energy ministry has extended offers to 40 companies, which are to respond by Jan. 9.

Five of the companies would be new to the region. Nineteen companies will receive offers of operatorships. One of them, Lotos, has not previously been an operator on the Norwegian shelf.

Potential operators besides Lotos include BG Norse; Centrica Resources; ConocoPhillips; Dana Petroleum PLC; Det Norske Oljeselskap; Dong; Eni SPA; Lundin AS, Maersk Oil; Marathon Oil Corp., and Wintershall.

The Norwegian Petroleum Directorate said 21 of the 34 production licenses are in the North Sea, 11 are in the Norwegian Sea, and 2 are in the Barents Sea.

"Eight of the production licenses are additional acreage in existing production licenses. Three of these border on discoveries/fields," it added.

The ministry expects nine firm wells to be drilled on the acreage with six in the North Sea (three by DNO AS and one each by StatoilHydro Marathon, and Lundin). One well will be drilled in the Norwegian Sea (Wintershall), and two will be drilled in the Barents Sea (DONG).

Companies that have 21 of the production licenses with "drill or drop" clauses have 1-3 years to decide whether to drill a well. If they decline, the production license will lapse.

DNO has been offered operatorship of production license 500, which covers parts of Block 16/1 in the North Sea. If it accepts the offer it will have a 35% stake and work with Skeie Energy AS, 35%, and Spring Energy Norway AS, 30%.

The ministry received applications from 47 companies for 215 blocks or parts of blocks spanning 48,057 sq km in this round.

Contact Uchenna Izundu at uchennai@pennwell.com.

Related Articles

Marathon cuts 2015 budget amid ‘current price environment’

12/18/2014 Marathon Oil Corp. expects to spend $4.3-4.5 billion in its capital, investment, and exploration budget for 2015. That total represents a 20% decli...

The Big Crew change is here

10/27/2014 A phenomenon known as the Big Crew Change is under way in the oil and gas industry as the baby boomer generation reaches retirement age, and the in...

Det Norske to buy Marathon Oil’s Norway business for $2.7 billion

06/02/2014 Det Norske Oljeselskap ASA has entered into a definitive agreement to acquire Marathon Oil Norge AS, a wholly owned subsidiary of Marathon Oil, for...

Marathon to buy retail unit from Hess for $2.87 billion

05/22/2014 Speedway LLC, a subsidiary of Marathon Petroleum Corp. (MPC), has agreed to acquire Hess Retail Holdings LLC, the East Coast’s largest chain of com...

Marathon proposes expansion at Garyville refinery

04/24/2014 Marathon Petroleum Corp. is taking the next step toward construction of a proposed $2.2-2.5 billion upgrade to its 522,000-b/d Garyville, La., refi...

People

02/01/2014

Marathon to ramp up US resource play activity

12/11/2013 Marathon Oil Corp. plans to accelerate its US resource play activity and market its North Sea assets in 2014, the company said at its analyst day i...

MARKET WATCH: US crude futures fall on budget, debt ceiling uncertainties

10/08/2013 Crude oil futures prices fell Oct. 7 in trading on the New York market as traders and analysts cited concerns about the budget stalemate in Washing...

KRG approves Iraq Atrush first phase oil development

10/07/2013 The Kurdistan Regional Government has approved first-phase oil development of the Atrush block in Iraq’s Kurdistan Region by a group led by TAQA.
White Papers

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...
Available Webcasts


The Alternative Fuel Movement: Four Need-to-Know Excise Tax Complexities

When Thu, Jun 4, 2015

Discussion on how to approach, and ultimately embrace, the alternative fuel market by pulling back the veil on excise tax complexities. Taxes may be an aggravating part of daily operations, but their accuracy is crucial in your path towards business success.

register:WEBCAST



On Demand

Prevention, Detection and Mitigation of pipeline leaks in the modern world

Thu, Apr 30, 2015

Preventing, detecting and mitigating leaks or commodity releases from pipelines are a top priority for all pipeline companies. This presentation will look at various aspects related to preventing, detecting and mitigating pipeline commodity releases from a generic and conceptual point of view, while at the same time look at the variety of offerings available from Schneider Electric to meet some of the requirements associated with pipeline integrity management. 

register:WEBCAST


Global LNG: Adjusting to New Realities

Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected