Norway Awards Oil Permits to 11 Firms in Arctic Licensing Round
licences are located in the Barents Sea and three in the Norwegian Sea off central Norway, the Ministry of Oil and Energy said on Monday."This licensing round confirms that the oil companies see opportunities for further profitable petroleum activity in the north," Oil and Energy Minister Terje Soeviknes said in a statement.Equinor, formerly known as Statoil, was awarded five licences and will participate as a non-operating participant in a further two.Shell, Aker BP, Lundin, OMV and Spirit Energy, a Norwegian joint venture between Britain's Centrica and Germany's Bayerngas, were also
Norway Wants to Build Floating Wind Farms
development of offshore floating power generation, after the government said last December it would seek to accommodate such plans."Wednesday next week I will have a meeting with different stakeholders in offshore wind and discuss both the opening process and the regulatory framework," Terje Soeviknes said.Unlike offshore wind turbines that are fixed to the seabed, floating wind parks are seen as potentially more feasible for use in deeper waters.The minister didn't name any firms, but Norway's Equinor, which recently changed its name from Statoil to increase its focus in renewable
Norway Launches New Licensing Round in Mature Offshore Areas
plans to award licenses at the beginning of 2019, it said."Access to prospective exploration acreage is crucial in order to make new petroleum discoveries. New discoveries on the Norwegian continental shelf ensure value creation, employment and Government revenues," Energy Minister Terje Soeviknes said in a statement.The latest licensing round has been expanded by a total of 103 blocks compared to last year, 47 of which were in the Norwegian Sea and 56 in the Barents Sea, the ministry added.(Reporting by Gwladys Fouche, editing by Terje Solsvik
Statoil to Rebrand as Equinor
15, but Statoil said it already had the backing of the Norwegian state, which has a 67 percent stake in the company. "The decision reflects that Statoil is developing itself into a broad energy company in line with global developments in the energy sector," Oil and Energy Minister Terje Soeviknes told Reuters. Statoil said it expects to invest 15-20 percent of capital spending by 2030 in what it calls new energy solutions, up from about 5 percent last year. Saetre declined to say how much Statoil was planning to spend on renewables in 2018, but the company has said
If Subsidized, Statoil Will Eye Norway's Offshore Wind
that we will assess," Saetre said on the sidelines of a conference. "It would have to be subsidised, definitely, for a long time," he added. The Norwegian state, Statoil's majority shareholder, will not have a say in the firm's renewable investments decisions, Energy Minister Terje Soeviknes separately told Reuters. "We have meetings where we discuss these (investments) but it is up to the (Statoil) board to decide," he said. In October, Statoil began production from the first floating wind farm established off the coast of Scotland, a pilot project that generates
February 2024
