Norway to award oil licenses in new offshore areas in 2016, 20 Aug 2014 16:50

Rigzone reports that Norway will award oil and gas licenses in new offshore areas, including in an important Arctic zone bordering Russia, in the first half of 2016, the oil and energy ministry said on Tuesday, in a process that will take longer than recent rounds. The ministry, which has already asked companies to nominate blocks where they want to drill, expects applications in the second half of 2015, indicating that the process of attributing new licences will last between 24 and 30 months, longer than the 15-18 months in the previous three rounds between 2008 and 2013.


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