Norway's Ministry of Petroleum and Energy has launched the 2016 Awards in Predefined Areas (APA) licensing round.
APA is one of two equal licensing rounds on the Norwegian continental shelf. The scheme was introduced in 2003 to facilitate exploration of geologically mature parts of the shelf using current methods.
The 2016 round, the predefined area has been expanded by 24 blocks in the Norwegian Sea and 32 blocks in the Barents Sea.
Several blocks are around the Hansteen field in the Norwegian Sea. In the Barents Sea, the blocks are mainly around the Castberg, Alta and Gotha discoveries.
Additional resources in the area surrounding a planned or producing field may increase profitability, optimize utilization of resources and value creation from the petroleum resources.
"Awarding prospective exploration acreage is a central element in the Government's policies. Our licensing policy promotes effective resource management, high value creation and employment. These are all-important factors, particularly in light of the challenging situation in the industry, says Minister of Petroleum and Energy Tord Lien.
The application deadline for companies is noon on 6 September 2016. The aim is to award new production licenses in the announced areas at the beginning of 2017.
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