Norway will hold a new licensing round for its offshore oil and gas fields, according to the Norwegian Petroleum Directorate (NPD) on Wednesday.
The NPD said that areas in the North Sea, the Norwegian Sea and the Barents Sea would be offered to oil companies.
The companies will have until the Sept. 4 deadline to submit their applications, and the awards will be announced during the first quarter of 2019.
'New exploration opportunities are crucial for new discoveries. New discoveries are important for long-term value creation, employment and government revenues from the Norwegian Continental Shelf. A cornerstone of the government's petroleum policy is therefore to facilitate the oil companies continuing a safe and efficient exploration activity in Norway,' said Norway's Energy Minister Terje Soviknes.
The latest licensing round in 2018 saw an additional 103 blocks included compared to last year.
'Of these, 47 are in the Norwegian Sea and 56 in the Barents Sea,' said the NPD.
By Murat Temizer
Anadolu Agency
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