APA 2021: 28 companies offered ownership interests

By Jeff Haizel-Cobbina - January 20, 2022
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18/01/2022 18 January 2022, 28 companies have received offers of ownership interests in a total of 53 production licences on the Norwegian Shelf in the Awards in Predefined Areas (APA) 2021.

The authorities assessed applications from a total of 31 companies during autumn 2021.

Of the 53 production licences, 28 are in the North Sea, 20 are in the Norwegian Sea and 5 are in the Barents Sea. 17 of the production licences are additional acreage to existing production licences.

More to be discovered

“It’s gratifying that the companies continue to have strong convictions that there is more to be discovered in areas with known geology, and in close proximity to existing infrastructure. It’s important to prove these resources so that available capacity on already-established process facilities and pipeline systems can be exploited. This means that even small discoveries can create considerable value”, says Kalmar Ildstad, the NPD’s Director for licence management.

This year’s awards show that there is still great diversity among the players, with a good mix of small and medium-sized companies alongside major international players.

This announcement was originally posted on the website of The Norwegian Petroleum Directorate (npd.no)