Norway on Tuesday awarded stakes in 57 offshore oil and gas exploration licences to 19 companies in its annual licensing round, the country’s energy minister told an industry conference.
The allocation for mature areas rose from 53 licences awarded one year ago while the number of oil and gas firms receiving the permits decreased from 20.
The annual predefined area (APA) rounds of new offshore exploration acreage are central to Norway’s strategy of extending oil and gas production for decades to come although activity is set to decrease in the coming years.
“Norway is Europe’s most important energy supplier, but in a few years production will begin to decline. Therefore, we need new projects that can slow the decline and deliver as much production as possible,” Energy Minister Terje Aasland said.
The policy is fiercely opposed by the Green Party and by environmental groups which protested outside of the conference venue.
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