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NK Lukoil OAO and NK Rosneft' OAO Bid for Norwegian Offshore Blocks-Interfax


Monday, 10 Dec 2012 09:35pm EST 

Interfax reported that NK Lukoil OAO (Lukoil) and NK Rosneft' OAO (Rosneft) have submitted bids to participate in the 22 licensing round for offshore blocks in Norwegian waters, the Norwegian Petroleum Directorate said in a statement. The Norwegian Petroleum Directorate has received applications for both the Norwegian Sea and the Barents Sea. The interest is greatest in the Barents Sea. The tender is for 86 blocks, 14 of them in the Norwegian Sea and the rest in the Barents Sea.Lukoil Overseas, the operator for the international upstream projects of Lukoil, has formed three alliances with two Norwegian companies, Det Norske and North Energy, and one Swedish company, Lundin, to bid at the Norwegian government's 22nd licensing tender round. The companies are participating in the consortia on equal terms. Lukoil is the operator of one of them. Rosneft and Norway's Statoil in the summer of 2012 signed a number of agreements to work together in Russia and on offshore Norwegian projects. The Companies agreed to jointly bid in tenders for blocks in Norway's part of the Barents Sea. The Companies planned to jointly assess the prospects of blocks that are in areas of mutual interest and submit joint applications to the relevant Norwegian authorities. It was expected that a Rosneft subsidiary that was to be set up in Norway would apply for a 33.33% stake in the blocks. 

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8:35am EDT