Norway receiving applications for continental shelf development

Publish date: February 24, 2005

Ministry of oil and energy is receiving applications from the oil companies for participation in the 19th round on oil licenses distribution on the continental shelf in the Norwegian and the Barents seas.

The Ministry has already received 19 applications from Amerada Hess, BG, BP, ChevronTexaco, ConocoPhillips, DNO, ENI, Gaz de France, Hydro, Idemitsu, Lundin, Marathon, RWE Dea, Shell, Statoil, Svenska, Talisman, Total and Wintershall. 14 companies participated in the previous round. Each company may apply for operation in 15 free segments of the continental shelf. The Ministry will compare competitors’ offers and make decisions about licensing after receiving all the applications. Specialists predict a competition, as there are already two and more claims for 61 segments, “RusEnergy” informs.

Companies will be licensed in the first quarter 2006.