Press

Breaking number of licenses awarded in the award round, Norway shows the potential of mature basins


Analysis of Norway's upstream oil and gas industry shows that the country currently has 887 licensed blocks, of which 529 blocks are in the shallow water terrain and 358 are in deepwater terrain, according to GlobalData, a leading data and analytics company.

Statoil ASA, Petoro AS and Aker BP ASA represent the companies with the largest licensing presence in Norway, each participating in 480, 368 and 225 blocks, respectively.  In January 2018, the country awarded a record number of production licenses, with 75 licenses secured by 34 companies, demonstrating the continued interest both in mature areas such as the North Sea and new frontier areas such as the Barents Sea.

A total of 88 discoveries were made in Norway over the past five years, according to GlobalData. Of these, 45 are deepwater and 43 are in the shallow water terrain. Water depths for the discovered fields varied from 213 to 4,674 feet. The key players, Statoil ASA, Lundin Petroleum AB, and Wintershall Norge ASA were responsible for 51, 11 and 8 discoveries, respectively, over the past five years. 7219/12-2 S, a deepwater well is the latest discovery in the Barents Sea basin, with a water depth of 1,109 feet.

Norway currently has 144 discovered, 83 producing, 15 planned, 14 announced, and 22 abandoned fields. Of these, 184 are oil and 94 are conventional gas fields. Johan Sverdrup, Ærfugl, and Aasta Hansteen are the largest planned fields, expected to come online by 2019, 2020 and 2018 respectively. Johan Castberg is the largest announced oil field, expected to commence operations by 2022. Statoil ASA is the operator of the field and Eni SpA (30%), Petoro AS (20%), and Statoil ASA (50%) are the equity stake holders of the project.


Visit source site

https://energy.globaldata.com/media-center/press-r...

NorwayupstreamMature BasinsLicenseGlobalStatoilLundin NorwayLundin Petroleum

More items from oilvoice


NPD: Drilling Permit for Well 7324/3-1 in Production Licence 615

The Norwegian Petroleum Directorate (NPD) has granted Equinor Energy AS a drilling permit for well 7324/3-1, cf. Section 15 of the Resource Management Regulations. Well 7324/3-1, will be drilled from the West Hercules drilling facility in position 73°57'27,39" North og 24°41'04,86" East. The d ...

OilVoice Press - OilVoice


Posted 19 minutes agoPress > NPDNorwayNorwegian Petroleum Directorate +6

Ørsted Divests 50% of Hornsea 1 Offshore Wind Farm

Ørsted has signed an agreement to sell 50% of the 1,218MW offshore wind farm Hornsea 1 to Global Infrastructure Partners (GIP). Hornsea 1 is under construction and will be the world's largest offshore wind farm when commissioned in 2020. As part of the agreement, Ørsted will construct the wind far ...

OilVoice Press - OilVoice


Posted 21 minutes agoPress > Wind FarmDivestmentOffshore +3

First Gulf Service Station in China is Open for Business

  Gulf Oil International is delighted to announce that the first Gulf-branded service station in China has been opened in Guangzhou.  In May 2018, Gulf Oil International announced that it had reached an agreement to launch a national service station network in China, with the initial 25 expect ...

OilVoice Press - OilVoice


Posted 23 minutes agoPress > First GulfService StationChina +1

Kayrros Secures $24M in Series B Funding to Expand Energy Market Penetration

New funding deepens the company's crude oil market intelligence and expands its coverage across other energy markets that include petroleum products, natural gas, and power generation PARIS, 18 September 2018  – Kayrros, the leading advanced data analytics firm, today announced that it has rais ...

OilVoice Press - OilVoice


Posted 24 minutes agoPress > FundingEnergyKayrros +1

United Oil & Gas Plc Interim Results - Delivering on Strategy to Acquire and Develop Multi-Stage Portfolio

Interim Financial Statements for the Period Ended 30 June 2018 United Oil & Gas Plc (‘United' or 'the Company'), the London Stock Exchange listed oil and gas exploration and development company, announces its results for the six months ended 30 June 2018.   Highlights Delivering on strateg ...

OilVoice Press - OilVoice


Posted 4 hours agoPress > UOGUnited Oil & GasEarnings +3
All posts from oilvoice