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Norway awards highly prospective Arctic acreage


Norway awards highly prospective Arctic acreage

Report summary

The culmination of Norway’s highly anticipated 23rd Licensing Round saw 10 Arctic licences awarded to 13 companies. Three awards were in the newly opened Southeast Barents near Russia. The awards are announced at a time when most companies are cutting costs, slashing their exploration programs and delaying high-risk wells to focus on near-field activities.  However, with several stacked prospects already identified and resource estimates in excess of one billion barrels, drilling success in the Southeast Barents could be the opening of a major new oil and gas province in Norway.

What's included?

This report includes 2 file(s)

  • Norway awards highly prospective Arctic acreage PDF - 403.50 KB 4 Pages, 0 Tables, 2 Figures
  • Norway 23rd Round Awards.xls XLS - 133.50 KB

Description

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  • First licences awarded in Southeast Barents
  • Statoil and Lundin take the spoils
  • Creating value in a challenging environment
  • Five wells to be drilled by 2019

In this report there are 2 tables or charts, including:

  • First licences awarded in Southeast Barents
    • Norwegian Barents Sea 23rd Round awards
  • Statoil and Lundin take the spoils
    • Typical evolution of exploration strategies in the downturn
  • Creating value in a challenging environment
  • Five wells to be drilled by 2019
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