Nominations in 23rd Licensing Round in Norway Fit Well with EMGS’s Barents Sea Program

On 21 January the Ministry of Petroleum and Energy received block nominations for 160 blocks in the Norwegian Continental Shelf, whereof 140 blocks are in the Barents Sea.

“Of the 25 blocks nominated by two or more companies in the vicinity of the Fingerdjupet subbasin and Hoop Fault Complex, EMGS already has 3D EM data for 18 of them,” said EMGS’s VP Sales Europe & Russia, Bjørn Petter Lindhom.

Confirms interest in Hoop-Fingerdjupet

The overwhelming interest shown for the Barents Sea, and not least Fingerdjupet-Hoop, is especially good news for global provider of EM services, EMGS. EMGS’s Bjørn Petter Lindhom explained why:

“The nomination of blocks by the oil companies confirms the attractiveness of the Hoop-Fingerdjupet area and fits well with EMGS’s program for 2014.”

30 new blocks in southeastern Barents Sea and Hoop

The 23rd concession round reflected particular interest in the formerly disputed southeastern area of the Barents Sea. The interest in the southeast area came as no surprise to Minister of Petroleum and Energy, Tord Lien. In a press release issued by the Ministry 21 January, Lien commented that the area was opened for petroleum-related activities in 2013, the first time any new area had been made available for exploration since 1994.

According to EMGS’s Lindhom, EMGS considers to expand its 3D EM library in the Barents Sea in 2014, with special focus on southeastern Barents and blocks in the vicinity of the Hoop Fault Complex. EMGS has received acquisition permit from the NPD (Norwegian Petroleum Directorate) for all of the Barents Sea, including the newly opened area in the southeast.

Press Release, February 03, 2014; Image: EMGS

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