Norway Records Strong Interest in APA 2017
Norway’s upstream regulator Norwegian Petroleum Directorate said September 6 that interest from companies has increased in this year's Awards in Predefined Areas (APA) licensing round.
When the deadline expired September 1, it had received applications from 39 companies for the APA 2017 round, six more than in last year’s. Never before had so many applications been submitted, with applications from a mix of small, medium and large companies plus ones new to the Norwegian shelf, said NPD.
Its new exploration director Torgeir Stordal (pictured below) said: “A lot of new seismic has been acquired in recent years, which has contributed to an improved understanding of the subsurface. At the same time, cost reductions have contributed to improved profitability in the projects.”
Under this year’s round it was possible to apply for a total of 177,170 km2, while it was possible to apply for 139,942 km2 last year. Awards are scheduled for early 2018.
NPD exploration director Torgeir Stordal (Photo credit: NPD)
Mark Smedley