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Norway awards new production licenses
June 19, 2018
Source: UPI

Norway awards new production licenses

The Norwegian Ministry of Petroleum and Energy has awarded 12 production licenses to eleven companies to conduct exploration and production of oil and gas. The Norwegian Petroleum Directorate (NPD) believes that the largest undiscovered resource potential on the Norwegian continental shelf is in the Barents Sea, where it awarded nine out of twelve licenses. Total yield from the Norwegian continental shelf saw an increase for the fourth year straight.

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