Norway’s Ministry of Petroleum and Energy has awarded 47 new offshore oil and gas exploration permits to 25 companies in its latest area licensing round. 29 drilling permits were awarded in the North Sea, 16 in the Norwegian Sea and two in the Arctic Barents Sea. Each of the drilling permits will have multiple owners, with 12 companies offered one or more operatorships.
The Norwegian state-owned oil and gas company Equinor was the main recipient, as it was awarded stakes in 26 of the licences and will be the operator of 18 of them. The Norwegian independent oil firm Aker BP was awarded stakes in 17 licences, of which it will operate 9, while Eni’s Norwegian subsidiary Vaar Energy won stakes in 12 licences and will operate 5. Germany’s Wintershall Dea won stakes in 11 licences and will operate 3 of them.
Norway’s oil output is expected to rise by 7% in 2023 while gas volumes are predicted to remain similar to 2022 around 122 bcm. Norway became Europe’s largest gas supplier in 2022 after Russia cut much of its gas supply over the year.
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