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Norway Expands Arctic Acreage for Oil and Gas Drilling in Mature Areas
Norway is expanding the acreage in the Barents Sea and the Norwegian Sea, for which companies vying for licenses in mature areas can bid this year, the energy ministry of Western Europe’s largest oil and gas producer said on Wednesday. Following the ministry’s announcement, the annual rounds of awards in predefined areas (APA), which give oil companies the opportunity to gain access to attractive acreage in the mature areas of the Norwegian shelf, will include a further 37 blocks—three in the northwest of the Norwegian Sea and 34 blocks in the eastern Barents Sea. APA is Norway’s annual licensing round that ... (full story)