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Norway launches its 2023 oil and gas exploration round, offers 92 blocks

Norway’s Ministry of Petroleum and Energy has launched its 2023 offshore oil and gas exploration round (awards in predefined areas, APA), in which the country is proposing 92 oil and gas blocks on the Norwegian continental shelf. Norway is offering 78 blocks to energy firms in the Barents Sea and 14 blocks in the Norwegian Sea. Bids for APA 2023 can be submitted until 23 August 2023 and awards are expected during the first quarter of 2024. Oil and gas companies can also apply to the blocks offered in the previous APA rounds which had not yet been awarded.

In 2022, Norway offered 28 new exploration blocks in the Barents Sea, compared to 84 in 2021 (including 70 in the Barents Sea, 10 in the Norwegian Sea and 4 in the North Sea). Norway’s oil output is expected to rise by 7% in 2023, while gas volumes are predicted to remain similar to 2022 at around 122 bcm. Norway became Europe’s largest gas supplier in 2022 after Russia cut much of its gas supply over the year.