The Ministry of Petroleum and Energy announced the 25th licensing round on 19th of November 2020, encompassing 136 blocks in the Norwegian Sea and the Barents Sea.
The deadline to apply for the 25th licensing round is Tuesday, 23 February 2021 at 12:00.
Applicants are encouraged to submit applications well before the deadline. Awards are expected during the first quarter of 2021.
“The recently published Resource Report 2020 showed that substantial undiscovered resources remain in all areas on the NCS. In the 25th round, the companies will have access to acreage that has not been available in the annual APA rounds so far,” says Torgeir Stordal, Director Exploration.
“The announced acreage features a broad range of exciting plays that, so far, have not been extensively explored.”
“This licensing round contributes to predictable access to acreage for the industry, and towards maintaining the activity level. We look forward to seeing the results in the years to come.”
The combination of high production of oil and gas from a total of 94 fields, significant demand and high commodity prices led to a historically high level on the State's revenues from petroleum. Much of this is due to record-high gas prices.
The Ministry of Petroleum and Energy has received applications from five companies in connection with the announcement of two areas associated with injection and storage of CO2 on the Norwegian continental shelf.