North Energy Receives Barents Sea Licences

23 February 2011 (Last Updated February 23rd, 2011 18:30)

North Energy has been awarded two licences in the Barents Sea. In the 2010 Awards in Predefined Areas (APA), the firm won one North Sea licence and two Norwegian Sea licences, bringing the firm's total to 19. According to portfolio manager Vigdis Wiik Jacobsen, activity in t

North Energy has been awarded two licences in the Barents Sea.

In the 2010 Awards in Predefined Areas (APA), the firm won one North Sea licence and two Norwegian Sea licences, bringing the firm’s total to 19.

According to portfolio manager Vigdis Wiik Jacobsen, activity in the Barents Sea is more demanding than in the North Sea or the Norwegian Sea because of the area’s weather, light conditions, challenging geology and limited infrastructure.

“Nevertheless, we have a long-term perspective and hope to make finds that can lead to development and production with direct impacts and ripple effects onshore,” Jacobsen said.

There are two systems for awarding licences on the Norwegian Continental Shelf: the annual APA system of the mature sections and ordinary concession rounds, which are usually held every other year.