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November 2008

Vol. 13, No. 47 Week of November 23, 2008

Our Arctic Neighbors: Norwegian offshore licenses draw crowd

Norway’s 20th licensing round for offshore production licenses to be awarded in spring 2009 has attracted 46 companies, a big increase compared with 24 companies for the 19th licensing round and 18 for the 18th round, the Ministry of Petroleum and Energy said in a release Nov. 7. Those applying include Chevron, ConocoPhillips, Eni, ExxonMobil, Petro-Canada, Shell, StatoilHydro, Total and numerous smaller European and North American companies, but no Russian companies.

“It is positive that this many companies want to aim towards new opportunities in the Barents Sea and the Norwegian Sea,” said Terje Riis-Johansen, Norway’s minister of petroleum and energy. “Petroleum activities that are undertaken in accordance with important environmental and fisheries concerns can make a significant impact on employment, industrial development and value creation in the northern areas.”

As part of a new openness policy, the ministry intends to make available to the public for the first time which of the announced blocks the companies have applied for. This will be published as soon as the ministry has reviewed the applications.

—Sarah Hurst






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