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Norway energy ministry receives 38 bids for new offshore acreage

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Norway energy ministry receives 38 bids for new offshore acreage

A total of 38 companies submitted bids for new exploration acreage offshore Norway in the Awards in Predefined Areas licensing round, the Norwegian Ministry of Petroleum and Energy said in a Sept. 7 news release.

Bidders included subsidiaries of oil majors Equinor, Royal Dutch Shell PLC, ConocoPhillips and TOTAL SA.

The government expanded the pre-defined areas near existing discoveries in the Norwegian and the Barents Seas ahead of the licensing round.

The ministry intends to award the licenses in early 2019.