Norway has awarded a record number of licenses in its latest mature license round, the Norwegian energy ministry said Tuesday, further evidence of improving confidence in the Norwegian offshore sector as the oil and gas industry looks to turn the corner from the prolonged downturn. A total of 75 new production licenses have been awarded under the 2017 APA (Awards in Pre-defined Areas) round to 34 companies. “The number of production licenses in this year’s APA round is the largest ever in a licensing round on the Norwegian Continental Shelf,” energy minister Terje Soviknes said. Norway was particularly hard hit by the oil price slump since 2014, with investment slashed and jobs lost. But with a focus on cost-cutting and efficiency, companies seem to be looking to the Norwegian Continental Shelf — and especially the areas near to existing infrastructure — as a relatively safe bet in the next […]