Pursuant to Section 39 (5) of the Petroleum Regulations, the Norwegian Petroleum Directorate (NPD) has stipulated new area fee rates to apply as of 1 January 2014.
The area fee rates are in line with the proposal that has been submitted to all operators for consultation. At the end of the period stipulated pursuant to Section 3-9 first paragraph first sentence of the Petroleum Act, the new rates in Section 39 (1) of the Petroleum Regulations will be as follows:
- First year: NOK 34 000 per km2
- Second year: NOK 68 000 per km2
- Subsequent years: NOK 137 000 per km2 per year.
When calculating the fee, the area shall be rounded off to the nearest km². Production licenses which are divided stratigraphically shall pay the area fee on the basis of the area on the seabed covered by the licence.