June 18, 2018 / 8:24 AM / a year ago

Norway awards oil permits to 11 firms in Arctic licensing round

OSLO, June 18 (Reuters) - Norway has awarded oil and gas exploration acreage to 11 companies in its latest licensing round, down from 13 firms that won permits in the previous cycle in 2016, the Ministry of Oil and Energy said on Monday.

Nine of the awarded licenses in the 24th round are located in the Barents Sea where Norway believes it has the greatest potential for significant new discoveries, and three in the Norwegian Sea off the coast of central Norway. (Reporting by Terje Solsvik, editing by Camilla Knudsen)

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