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Rosneft, LUKOIL obtain licences to develop hydrocarbons on Norwegian shelf

Preparations for the 22nd licence round started in 2011

Photo ITAR-TASS

Photo ITAR-TASS

OSLO, June 13 (Itar-Tass) - Russia’s oil companies, Rosneft and LUKOIL, have obtained licences to develop hydrocarbons on the Norwegian continental shelf of the Barents Sea.

The Norwegian oil directorate made public the results of the 22nd licence round on Wednesday, June 12. A total of 24 sections have been distributed between the 29th companies. Twenties of them are in the Barents Sea and the four ones are in the Norwegian Sea. According to Norwegian Minister of Petroleum and Energy Ola Borten Moe, many impressing applications have been given. This fact proves the increasing interest in the Norwegian continental shelf, the minister added.

Preparations for the 22nd licence round started in 2011. Companies gave applications from June to December 2012. Oil and gas on the distributed sections will be started developing not earlier than in 10-15 years, the Norwegian government said.

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