At present, the 22nd bid round is being held in Norway, according to which the Royal Ministry of Petroleum and Energy has offered blocks located in the Norwegian sector of the Barents Sea. The applications should be submitted by the 4th of December 2012, and the award of licences is planned to take place before summer 2013.
In order to participate in this concession round, LUKOIL Overseas has formed bilateral alliances with Det norske oljeselskap ASA, Lundin Norway and North Energy companies. LUKOIL Overseas will actively participate in the forthcoming licence rounds on the Norwegian shelf.
President of LUKOIL Overseas Andrey Kuzyaev stated at the opening ceremony in Oslo that LUKOIL has already substantial offshore exploration and production experience and the Arctic region including the Barents Sea, similarly to the Black Sea, along with the Caspian and the Baltic, as well as the Gulf of Guinea, are considered as regions of strategic interest to the company.