By OGJ editors
HOUSTON, Oct. 2 -- Statoil ASA is seeking new Norwegian licenses off Norway under that country's first annual exploration program covering license awards in Norwegian Continental Shelf areas near those already known to have reserves.
The "2003 TFO scheme," which replaces the former North Sea rounds, covers a total of 143 blocks and partial blocks in mature areas of the North and Norwegian Seas close to existing infrastructure.
Norway is encouraging exploration and development in these mature areas now, while infrastructure is still in place and production operating costs relatively low. After the large fields stop producing and the infrastructure is removed, it may not be commercially viable to develop smaller discoveries.
"These rounds offer oil companies the opportunity to apply for exploration acreage in parts of the continental shelf that have been identified in advance," Statoil said in a written release.
The program is expected to be expanded gradually. Companies will be able to apply at any time between Jan.1 and Oct. 1, with awards to be made by the end of the same year.
In this round, Statoil said it was applying for production licenses in both the North Sea and the Halten-Nordland area of the Norwegian Sea.
"As the main player on the NCS for both exploration and production, we believe strongly in its potential," said Øivind Dahl-Stamnes, who heads Exploration & Production Norway, Statoil's business development and support sector for Norway exploration.
