Norway Puts 76 Offshore Oil and Gas Block on Offer

© corlaffra / Adobe Stock
© corlaffra / Adobe Stock

Norway offered 76 new blocks to explore for oil and gas in the Norwegian Sea and the Barents Sea on Friday in a so-called APA licensing round, an annual event awarding acreage in mature parts of the continental shelf, the energy ministry said.

Norway is Europe's biggest supplier of natural gas and a major producer of crude, pumping on average more than four million barrels of oil equivalent per day, but faces an expected decline in output in coming years as older fields are depleted.

"We will explore more, find more and extract more," Energy Minister Terje Aasland said in a statement.

"Further exploration is essential in order to limit the decline in output after 2030," he added.

Eight of the new blocks were in the Norwegian Sea while 68 were in the Arctic Barents Sea.

The deadline for oil companies to submit applications is September 2, and with awards expected to be announced in early 2026, the ministry said.


(Reuters - Reporting by Terje Solsvik, editing by Essi Lehto)

Current News

Three Dead in Chevron's Angolan Oil Patform Fire

Three Dead in Chevron's Angola

BW Opal FPSO Vessel set for Work off Australia

BW Opal FPSO Vessel set for Wo

Steerprop Launches Largest Retractable Thruster

Steerprop Launches Largest Ret

Okea Makes Oil Find in North Sea

Okea Makes Oil Find in North S

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine