Norway to Award 53 New Oil and Gas Licenses (TT)
The Norwegian government has awarded 53 new licences for oil and gas production on the Norwegian continental shelf in the North Sea, Norwegian Sea and Barents Sea.
According to Terje Aasland, Norway’s Minister of Energy, the continued development of oil and gas facilities on the Norwegian continental shelf is crucial for the future of jobs, value creation and the oil industry on the mainland.
But it is also about European energy security, according to the Minister.
– We need new discoveries to ensure that Norway can remain a stable and predictable supplier of oil and gas to Europe, so it is very positive to see so much interest in new exploration areas, he said in a press release.
Norwegian company Equinor has been awarded seven operator licences and 20 partner licences in connection with the award of new licences.
The company promises ‘robust investments’ and has set a target of drilling around 250 development wells by 2035.