22nd Licensing Round award to Idemitsu

13. juni 2013

On 12 June 2013 the Ministry of Petroleum and Energy (MPE) announced that Idemitsu Petroleum Norge AS has been offered a 20 % share in production license 711 in the 22nd Licensing Round.

The license (PL 711) is located in the southwestern Barents Sea. The license includes four blocks or part-blocks.

“The 22nd Licensing Round award to Idemitsu broadens our presence in the Barents Sea and expands our exploration scope in this increasingly promising and important petroleum province. The award complements our existing license portfolio and fits well with Idemitsu’s strategy and our long-term commitment to onward exploration on the Norwegian Continental Shelf in general, and to the Barents Sea in particular”, says Idemitsu Petroleum Norge’s Managing Director Teruyuki Takahashi.

The licensees and shares in the licenses are as follows:

PL 711 (Blocks 7218/4, 5 , 6 (part) and 7):    
 Repsol Exploration Norge AS (operator)  40 %
 Idemitsu Petroleum Norge AS  20 %
 PGNiG Upstream International AS  20 %
 OMV (Norge) AS  20 % 

Map of awards, shares, roles and work obligations for the 22nd Round may be found in the MPE press release:
Idemitsu Petroleum Norge AS
Oslo, 13 June 2013