• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 1 hour EU has already lost the Trump vs. EU Trade War
  • 26 mins Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 40 mins Tesla Launches Faster Third Generation Supercharger
  • 37 mins ''Err ... but Trump ...?'' *sniff
  • 3 hours China's Renewables Boom Hits the Wall
  • 2 hours Passerby doused with flammable liquid and set on fire by peaceful protesters
  • 10 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 1 min What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 9 hours Crazy Stories From Round The World
  • 20 hours Haaretz article series _ Saudi Arabia: A Kingdom in Turmoil | Part 1 - Oil Empire

Norway To Auction Record Number Of Arctic Oil Exploration Blocks

Norway

Norway’s Ministry of Petroleum and Energy said on Wednesday that it was offering a total of 102 blocks up for exploration in the 24th licensing round on the Norwegian Continental Shelf—a record number of blocks in the area—despite environmentalists’ concern over drilling in the Arctic.

Out of the 102 blocks, 9 blocks are in the Norwegian Sea, and 93 in the Barents Sea. Norway aims to award new production licenses in the first half of 2018, with the application deadline for companies set for November 30, 2017, the petroleum ministry said.

In March this year, Norway’s government announced initial plans to open a record number of oil exploration blocks in the Barents Sea, sparking renewed criticism from environmental groups. A considerable number of the blocks proposed in the Barents Sea are located north of the northernmost oil discovery in Norway. Back then, the government said that it would announce the final blocks in the second quarter this year after a public consultation with local communities, environmental groups, and regulators.

The proposal for the 102 blocks was based on nomination from the companies and evaluation by the government authorities. The proposal was sent for public consultation on March 13, with a May 2 deadline. In total, 36 submissions were received, the petroleum ministry said today.

New exploration acreage promotes long-term activity, value creation and profitable employment in the petroleum industry across the country,” Petroleum Minister Terje Søviknes said in the statement.

Related: Who Controls The Oil As Kurdish Independence Looms?

Environmentalists were not happy with the announcement, and Truls Gulowsen, head of Greenpeace Norway, told Reuters:

“This is an attack on the environment. It’s a confirmation that the Norwegian government doesn’t take their own climate commitments from Paris seriously.”

Greenpeace is suing Norway over the previous, 23rd, licensing round, for oil companies to drill in the Arctic Barents Sea. The plaintiffs—Nature and Youth and Greenpeace Nordic—argue “that Norway thereby violates the Paris Agreement and the people’s constitutional right to a healthy and safe environment for future generations”.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play