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Tariq Siddiqui's picture
COO Upstream EP Advisors LLC

Oil & Energy | Business Development | Capital Projects | Offshore Wind -  Proven leader in offshore development and operations, with 25+ years’ expertise in managing business through cycles...

  • Member since 2021
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  • Aug 18, 2021

There are speculations that Norway’s likely new government after the upcoming 13 September parliamentary election have secretly been working on a plan to ban exploration in new areas on the Norwegian continental shelf. The two contending parties are Labor led and Center party. Although, both parties deny of any such discussions.


  • Neither party appears to have enough support at present to gain a majority in parliament and will therefore need support from Socialist Left, a party that has prioritized putting a halt to oil and gas exploration.  


  • One option is to stop the country's biennial numbered licensing rounds
  • Further option is to stop Norway’s reimbursement system, which was introduced in 2005 to reduce the entry barriers for new companies and encourage economically viable exploration.
  • According to CEO of Norwegian energy company Equinor; the Awards in Predefined Areas (APA) are much more important than the numbered licensing rounds.
  • Equinor's exploration strategy in Norway is mainly focused on opportunities near existing infrastructure80% of their exploration drilling is in APA areas.


  • Even in case if exploration in APA continue, the opening up of new areas offering additional though less mature opportunities looks doubtful.

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