Statoil Wins Highest Number of Exploration Offers

Credit: Jonathan Bachman, Statoil

By MarEx 2016-01-19 17:29:31

The Norwegian Petroleum Directorate has made offers to 36 companies for 56 new production licenses on the Norwegian continental shelf, with Statoil being awarded the highest number of licenses.

The offers are being sent following the authorities' assessment of applications from 43 companies in the Awards in Pre-defined Areas (APA) 2015.

Of the 56 production licenses, 27 are in the North Sea, 24 in the Norwegian Sea and five in the Barents Sea. Fourteen of the production licenses are additional acreage for existing production licenses. 

"The number of applications has remained fairly constant in recent years. We are pleased that the oil companies still see the potential in the Norwegian shelf and are very focused on mature areas,” says Sissel Eriksen, director of exploration in the Norwegian Petroleum Directorate.

"It is an advantage that the geology is relatively familiar, even though surprises cannot be ruled out. Many of these areas have existing fields that are nearing the end of production, with infrastructure that can be exploited. It is therefore important that we explore the surrounding areas so that potential resources are not lost."

Of the companies that applied, 37 will be offered ownership interests in at least one production license. Petoro will participate as a licensee and will manage the State’s Direct Financial Interest (SDFI) in thirteen production licenses.

APA 2015 comprises a total of 220,635 square kilometers, an increase of 18,403 square kilometers from APA 2014. 

Statoil Awarded Interests in 24 Licenses

Statoil has been awarded interest in 24 licenses, 13 of those as operator and 11 as partner.

"This award is an important contribution to replenishing our exploration portfolio and in the work to maintain the production on the NCS until 2030 and beyond,” says Jez Averty, senior vice president for NCS exploration in Statoil.

Two commitment wells are included in the work program in areas important to Statoil. Both prospects are potential tie-back opportunities to existing infrastructure – Blåmann to Goliat and Cape Vulture to Norne.

The “Blåmann” prospect in the Barents Sea, where Statoil is operator with 50 percent participating interest and ENI and Petoro partnering with 30 percent and 20 percent respectively, has a firm well commitment to be drilled within two years of award.

The “Cape Vulture” prospect in the Norwegian Sea also comes with a firm well commitment to be fulfilled within two years of the award.

Other Offers

Other companies receiving offers included BP, ConocoPhillips, Det norske oljeselskap, Dong, ENI, GDF Suez, Lundin, Shell, Total and OMV. 

A map of the awards is available here.