Norway has offered 37 new blocks to explore oil and gas in the Norwegian Sea and the Arctic Barents Sea during its PPA round, in line with plans first outlined in January, the Ministry of Agriculture said. the country’s energy in a press release on Wednesday.
Oil companies have until September 3 to apply for new land, and the allocation decision is expected at the beginning of 2025.
“We must continue exploration to make new discoveries which, in turn, will pave the way for investments to maintain production,” Energy Minister Terje Aasland said in a statement.
“This is important to preserve jobs, community income and Europe’s energy security,” he added.
The annual allocation of predefined areas (APA) is at the heart of Norway’s strategy to expand oil and gas production, a policy fiercely opposed by environmental activists.
Oil and oil services
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