Norway winds down

Fresh developments in the Arctic promise new production, but enthusiasm for fresh licenses has waned

A decline in applications for production licenses in Norway's latest oil and gas auction suggests that appetite for fresh exploration on the Norwegian continental shelf may have passed its peak. However, existing offshore discoveries are still being converted into substantial developments. The number of companies who applied for acreage in the 24th oil and gas licensing round plummeted to just 11, down from 26 in the previous round. Applicants this time included Statoil and mid-sized Norway specialists Aker BP and Lundin, as well as Shell, Centrica, OMV, Wintershall and Kuwait's Kufpec. Also in the list was Rosneft's Norwegian subsidiary, RN Nordic, which together with a proposed deal under