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ROV NEWS: Afternoon to decide 18th Concession Round

Posted on 15.12.2003 - 06:09 EST in OFFSHORE NEWS by ginamc

Rons_ROV_Links writes:  The decision on whether to allow exploration activity outside the Lofoten Islands is expected later today, as the Norwegian Oil and Energy Minsiter Einar Steensnaes unveils...

the 18th Concession Round’s available blocks.

A minimum of two companies have nominated 43 blocks, among them nine in the contentious Nordland VI grouping. Acreages as far north as the 68th parallel outline Nordland VI, which has drawn oil companies with the promise of big finds.

The round includes remoter licenses, far from existing facilities, but away from the mature areas for which oil companies have requested tax relief to rejuvenate.

The Norwegian Oil Industry Association, the OLF, have stated a desire to reopen Barents Sea licenses already issued, if they are not assigned to Monday’s 18th round announcements. An opening of existing Barents licenses is expected eventually without the definition of new blocks in the area. - December 15, 2003


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