There is still “significant” interest in leveraging what remaisn in mature basins like the North Sea, according to the Norwegian Petroleum Directorate.
The body received 33 applications for the awards in the pre-defined areas (APA).
Sissel Eriksen, exploration director in the Norwegian Petroleum Directorate, said: “It is very positive that so many companies still believe that more oil and gas can be discovered on the most mature parts of the shelf. We have received many exciting applications.
“The APA scheme is important for maintaining the activity level and realising the values on the shelf. The application volume has remained consistently high in recent years, and this demonstrates that the companies also prioritise exploration in mature areas during times with challenging cost and price regimes.”
As part of the auction, companies could apply for a total of 139 942 square kilometres, while the available area in APA 2015 was 127 608 square kilometres.
While companies could apply for the whole shelf, the most popular areas were the North Sea and Norwegian Sea. Work will now begin to assess the applications. The will be ranked based on their geological concepts and exploration strategies.
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