Seven companies land interests in Norway’s 25th licensing round

The Ministry of Petroleum and Energy awarded offers of ownership interests to seven companies on a total of four production licenses on the Norwegian Shelf in the 25th licensing round.

Of the nine areas on offer, three areas in the Norwegian Sea and one in the Barents Sea were offered to A/S Norske Shell, Equinor Energy AS, Idemitsu Petroleum Norge AS, Ineos E&P Norge AS, Lundin Energy Norway AS, OMV (Norway) AS, and Vår Energi AS (OGJ Online, Nov. 20, 2020).

Equinor was awarded production licenses PL 1133 (Block 7324/4) and PL 1134 (Blocks 7323/2,3; 7324/1; 7423/12; 7424/10,11,1 2; 7425/10) in the Hoop area of the Barents Sea where tie-in of any discoveries to Wisting field is possible. Final investment decision for the Wisting license is planned for end 2022.

Equinor will serve as operator of PL 133 with 50% interest. Partners are Lundin Energy (20%), Petororo AS (20%) and Idemitsu (10%). Equinor also will serve as operator (50%) of PL 1134 with partners Lundin Energy (30%) and Petoro AS (20%).

Other license awards are PL 1055 B (Blocks 6204/2, 6204/3), where Ineos E&P Norge will serve as operator (60%) with partner A/S Norsk Shell (40%), and PL 1072 B (Blocks 7118/11,12), where Vår Energi will serve as operator (70%) with partner OMV (Norge) (30%).