Pertra Did Not Participate in the 19th Licensing Round

This article originates from the news archive of Det norske.

30. March 2006

Pertra ASA works actively to identify prospects in mature areas on the Norwegian Shelf – either large or small, gas or oil. The authorities have established an annual licensing program for mature areas on the Norwegian Shelf.

This is a supplement to the ordinary licensing rounds. Pertra, however, participated in the 18th Licensing Round and was awarded two licenses; PL 316 and PL 321.These were blocks in areas where exploration wells had previously been drilled and discoveries made.

The 19th Licensing Round is limited to outer sections of the Norwegian Sea and parts of the Barents Sea. Pertra has assessed neither of these areas to be sufficiently known, and will consequently not engage in these areas at present. Thus, the company elected not to apply for acreage in the 19th Licensing Round. However, we hope that the authorities will award acreage both in the Norwegian Sea and the Barents Sea in the 19th Licensing Round. Furthermore, we hope that the companies successful in the application will succeed with their exploration. Then Pertra will follow.

Pertra will, however, be an active participant in the coming APA Round, the deadline for applications being September 2006. The challenge in the mature areas consists of the licensing system which prior to 2003 enabled companies to keep half the awarded acreage for a period as long as 30 years. Pertra, as most new participants on the Norwegian Shelf, will welcome the opportunity to explore this acreage as a result of this being blocked. The Government’s announced initiatives in this area must be implemented as soon as possible.