Barents Sea NEWS

Wintershall Norge AS has acquired new acreage in the 24th licensing round hosted by the Norwegian Ministry of Petroleum and Energy for production licenses in the Norwegian Continental Shelf (NCS). Wintershall will own 20% stake in the license PL 964, while Aker BP will be the operator (40%). The licensing round saw the award of 12 licenses to 11 companies.

Norwegian-Equinor has bagged seven licenses in the 24th licensing round for production in the Norwegian Continental Shelf (NCS). The licenses are awarded for a commitment well in the southwestern part of the Barents Sea and interestingly one of the licenses pertains to the deep waters in a frontier part of the Vøring basin, in the Norwegian Sea. Equinor will gather and interpret data before taking any decision about drilling.

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.