Statoil wins 11 Norwegian production licenses in APA 2010

Source: Statoil

Statoil (NYSE:STO) has been awarded interests in 11 production licenses on the Norwegian Continental Shelf (NCS) January 18. Statoil is operator for eight of these licenses. 

“We’re very pleased with this year’s awards,” says Gro Gunleiksrud Haatvedt, Statoil’s senior vice president for exploration on the NCS. 

“The annual awards in predefined areas (APA) have played a part in forming the basis for the good results we’ve achieved in our infrastructure-led exploration in recent years.” 

The government awards embrace a total of 50 production licenses: 31 in the North Sea, 17 in the Norwegian Sea and two in the Barents Sea. 

Statoil has been awarded one operatorship in the Barents Sea, two licenses – one as operator – in the Norwegian Sea, and a total of eight licenses – six as operator – in the North Sea. 

“Infrastructure-led exploration contributes to maximizing the potential of the NCS,” says Haatvedt.
“Most of the licenses lie near established infrastructure and can thereby help to extend the lifetime of the installations and open up further exploration opportunities in these areas.” 

The system of having separate licensing rounds for mature areas began in 2003.

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