Japanese upstream firm Inpex has won five oil and gas exploration permits offshore Norway, adding to its operations in the country. This will contribute to the firm's strategy to make its upstream businesses more resilient even during the energy transition period away from fossil fuels.
Inpex was awarded exploration licence PL1217 in the northern North Sea, PL1219 in the southern Norwegian Sea, as well as PL1233, PL1231 and PL1194B in the northern Norwegian Sea through its local subsidiary Inpex Idemitsu Norge (IIN).
The successful bids were part of the awards in the predefined areas (APA) 2023 licensing round. IIN also secured three licences in the APA 2022 round.
The annual licensing round, which began in 2003, is aimed to promote further oil and gas exploration in previously explored areas by offering firms the chance to bid for any acreage within predefined areas, where production licences have not been awarded or where previous licences have been surrendered.
IIN has interests in several blocks in the northern Norwegian Sea, northern North Sea and Barents Sea. The company has continued stable production at the Fram and Snorre oil fields in the northern North Sea while it continues its exploration activity.
