Well, if the Norwegians can do it….
A record 47 companies applied for offshore oil exploration licenses for blocks near existing finds off Norway in the North Sea, the Norwegian Sea and the Barents Sea as a deadline ran out Friday, the Norwegian oil minister said.
Norway, a major oil and gas exporter, began offering unexplored blocks near existing finds in 2003 in what it calls Awards in Predefined Areas. The Nordic country hopes small finds near already operating fields will shore up declining offshore production.
“It is positive to see that many companies still find interesting opportunities in areas that have been available for exploration for several years. Several new companies among the applicants also reflect the diversity on the Norwegian shelf,” said Norwegian Oil Minister Terje Riis-Johansen.
And we’ll admit to swiping the headline from the Norwegian broadcaster, NRK, a story about the 47 companies seeking oil licenses. Translated, it’s “Many will find oil.” And a very cool photo from StatoilHydro:
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