Fewer companies hunting for Norwegian oil

According to a Norwegian media, the number of companies with exploration licenses granted through the TFO program has plunged by almost 40 percent since 2013. However the Norwegian Ministry of Petroleum and Energy is not concerned and notes that the number of extraction licenses is stable.

Photo: Helge Hansen, Statoil

Since the record year of 2013, the number of exploration licenses for new oil and gas in known areas has significantly declined on the Norwegian North Sea Shelf.

Last year, 33 companies submitted applications to the Norwegian Petroleum Directorate's annual round of concessions for awarding pre-defined areas, known as the TFO program. 29 of these companies were granted licenses which is seven fewer than in 2015.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs