Norway's Ministry of Petroleum and Energy today cranked open the door to Barents Sea exploration by putting some 54 blocks or part blocks in the icy northern region into its 23rd licensing round.
The opening of the Barents Sea to exploration has been long awaited - and debated - and could open up a new petroleum province, according to Sissel Eriksen, exploration director in the Norwegian Petroleum Directorate.
Barents Sea blocks account for the majority of the 57 blocks or part blocks offered. The offering followed nominations by the oil and gas industry, which closed in January last year. Some 40 companies nominated a total of 160 blocks or part blocks for the 23rd round. Eighty-six were nominated by two or more companies.
“The interest in exploration in the Barents Sea has increased significantly following the exciting discoveries in recent years; 7324/8-1 (Wisting), 7120/3-1 (Gotha) and 7220/11-1 (Alta)," said Eriksen. "It is fifty years since the government announced the first licensing round on the Norwegian continental shelf. With that hindsight the new areas in the southeast Barents Sea are particularly interesting. These are areas which are hitherto unexplored. This could open up a new petroleum province in the Barents Sea. This licensing round helps keep the activity level high, but we must also prioritise step-by-step exploration in the new areas.”
The 23rd round application deadline is 2 December 2015. The Norwegian government aims to award new production licenses in the first half of 2016.