The Norwegian Ministry of Petroleum and Energy said 24 new production licenses were doled out for oil and natural gas operations offshore.
Andy Brown, director of upstream operations at Royal Dutch Shell, told potential investors in early June offshore Norway is an attractive but challenging prospect for energy companies exploring northern European waters. Most of the offshore installations were installed in deep water under extreme weather conditions and sub-zero water temperatures.
Norway is among the Top 5 European countries in terms of oil and natural gas production. The ministry said continued offshore exploration was "critical" to maintain its top-tier energy position.
The government said last week the production licenses were in coordination with a series of awards handed out during a June 12 auction.
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