Norway invites bids for mature offshore acreage
Norway has invited operators to bid for mature acreage in the Norwegian North Sea, Norwegian Sea, and the Barents Sea under its Awards in Predefined Areas (APA) 2008 round.
LONDON, May 13 -- Norway has invited operators to bid for mature acreage in the Norwegian North Sea, Norwegian Sea, and the Barents Sea under its Awards in Predefined Areas (APA) 2008 round.
This year operators can apply for all or part of 18 blocks, 11 of which are in the North Sea, 3 in the Norwegian Sea, and 4 in the Barents Sea. The APA initiative is important in attracting new and smaller companies to the Norwegian Continental Shelf.
"The area announced in APA 2008 consists mainly of returned blocks where petroleum activities have previously taken place," the Norwegian Petroleum Ministry said. "The purpose of the APA-rounds is to enhance exploration activities in mature areas, where expectations are [for] smaller discoveries that cannot justify an independent development. It is therefore good resource management to discover and develop these resources before existing infrastructure in connection to other fields are shut down."
The deadline for applications is midday on Oct. 3, and the Norwegian Petroleum Ministry will award the blocks by late 2008 or early 2009.
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