Oil companies are expressing a “big interest” in Norway’s Arctic territorial waters under the Barents Sea, according to reports.
The claim comes ahead of the Norwegian Government’s latest licensing round for the shallow gas shelf.
This year’s event will be the 24th round since the awards were first given out in 1965.
Oil and Energy Minister Terje Soeviknes said: “Companies are taking a big interest, with particularly extensive and exciting nominations of acreage being made for the Barents Sea.”
He added that the oil ministry will launch a series of hearings for the awards within a few weeks.
A deadline has been set for late spring/early summer to announce which acreage will be available for inclusion in this round.
Soeviknes added that Norway should maintain its policy of rapidly awarding licences for new explorations sites
According to sources, a large expansion of acreage both in the Norwegian Sea and the Barents Sea us up for grabs this year.