Norway increases number of new oil, gas drilling permits, including in Arctic (updated)

Okea ASA

16/01/2024 13:37

(Adds detail, quote)
       SANDEFJORD, Norway, Jan 16 (Reuters) - Norway on Tuesday
awarded stakes in 62 offshore oil and gas exploration licences
to 24 energy companies in its annual licensing round, including
in the Arctic Barents Sea, the country's energy minister said.
    The annual award rose from 47 licences one year ago when 25
firms received permits.
    The annual predefined areas (APA) rounds of new offshore
exploration acreage are central to Norway's strategy of
extending oil and gas production for decades to come, a policy
that is fiercely opposed by environmental groups.
        The number of awards in the Barents Sea, a vast ocean
off the northern tip of continental Europe, rose to eight in the
new round from just two one year ago as energy companies
expressed more interest in the remote, harsh-environment region.
  
        "Last year I asked companies to look more closely at
Barents Sea opportunities... this award shows that more
companies have responded positively and are taking
responsibility," Minister of Energy Terje Aasland told a
conference.
  
        Norway in 2022 overtook Russia as Europe's biggest gas
supplier as Moscow's invasion of Ukraine severed decades-long
energy ties. The Nordic country also partly replaced Russian oil
barrels banned by the European Union.
  
        The number of new drilling permits awarded in the North
Sea was unchanged year-on-year at 29, while 25 were issued for
the Norwegian Sea, up from 16 one year ago.
  
        Each licence will have multiple owners. Among the top
recipients are typically Equinor  EQNR.OL , Aker BP  AKRBP.OL 
and other major players on the Norwegian continental shelf.
  

 (Reporting by Nerijus Adomaitis and Nora Buli, editing by Terje
Solsvik)
 ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters
Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))