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FINWIRES

Norway's Energy Ministry Latest Oil, Gas Licensing Round Adds 70 New Blocks

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-- Norway's Ministry of Energy said Tuesday it has initiated its 2026 annual licensing round for petroleum resources on its continental shelf with 70 new blocks added in the North, Norwegian and Barents seas.

Minister of Energy Terje Aasland said it was important that industry look at opportunities new, larger opportunities and not only those available close to existing infrastructure, as Europe seeks more hydrocarbons away from the volatility of the Middle East.

The expansion of available area in latest round follows a public consultation that has enabled the addition of 70 blocks.

The application deadline for companies wishing to take part is Sept. 1 and the energy ministry aims to grant new associated production licenses early in 2027, its statement said.

It has published an updated map of the available blocks on the Norwegian Offshore Directorate's website.

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