The consultation deadline for the 25th licensing round is set for August 26th 2020, while the application deadline is set for early next year and is expected to be awarded during the second half of 2021.
The consultation round only asks for input related to whether new, important information has been added that is relevant to the decision on where petroleum activity may be after the last management plan was dealt with.
Regular access to new exploration areas is crucial to maintaining activity on the Norwegian continental shelf. By initiating the 25th licensing round while also having the annual allocations in predefined areas (APA), the oil and gas industry gains access to acreage in both lesser-known and well-known areas. “The licensing rounds are one of the pillars of our petroleum policy,” says Minister of Petroleum and Energy Tina Bru.
The last few months have been particularly challenging, both for oil companies as well as supply sector. “It is important not to lose sight of the longer-term prospects of a crisis. We need new discoveries to maintain employment and value creation going forward. I have good faith that the opportunities we now offer in the Barents Sea and the Norwegian Sea will be attractive to companies and contribute to increased value creation and activity in the north in the long term,” says the Minister of Petroleum and Energy.