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    Nearly 50 Firms Applied for Norwegian Shelf Extraction Tender in 2014

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    Norwegian Petroleum Directorate (NPD) has received 47 applications for awards in predefined areas on the Norwegian shelf in 2014, the Directorate’s official website revealed on Thursday.

    MOSCOW, September 11 (RIA Novosti) – Norwegian Petroleum Directorate (NPD) has received 47 applications for awards in predefined areas on the Norwegian shelf in 2014, the Directorate’s official website revealed on Thursday.

    “It is positive to see so many companies with faith in the areas,” NPD said.

    Oil giants, such as Shell, Statoil, Centrica, ConocoPhillips, ExxonMobil, E.ON., GDF and others applied for the areas this year, Reuters reported.

    Evaluation of the applications will now begin at NPD and the results will be announced early 2015. “We are looking for the best applicants, companies with good knowledge, new geological concepts and the best strategy for exploring the areas,” Eriksen said.

    Overall, more than 100,000 square kilometers was open for applications in 2014. Since 2013, the predefined areas have been expanded by six blocks in the Norwegian Sea and three blocks in the Barents Sea.

    In late August, the head of the NPD Bente Nyland said that Norway could worsen the oil production prognosis for 2015, as extracting companies have to reduce investment in the face of rising costs and the desire to increase benefits to shareholders.

    Each year Norway distributes licenses for extraction on shelf areas where exploration has already been carried out. As a result, companies are able to return to the areas where they have worked before.

    Tags:
    extraction, shelf, ExxonMobil, ConocoPhillips, Statoil, Shell, Norwegian Petroleum Directorate (NPD), Bente Nyland, Norway
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