INPEX, through its subsidiary INPEX Idemitsu Norge AS (IIN), has been granted five production licenses in Norway as a part of the Awards in Predefined Areas (APA) 2023 licensing round. These licenses include PL 1217 in the northern North Sea, PL 1219 in the southern Norwegian Sea, and PL 1233, PL 1231, and PL 1194 B (an extension of PL 1194) in the northern Norwegian Sea.
The APA’s annual licensing rounds are designed to encourage further exploration of oil and gas in areas that have been previously explored, allowing for applications in predefined areas where production licenses are either unassigned or have been relinquished. IIN holds interests in a number of licenses across the northern Norwegian Sea, northern North Sea, and the Barents Sea. The company maintains stable production at the Fram and Snorre oil fields in the northern North Sea, alongside its active exploration efforts. The acquisition of these five new licenses is anticipated to significantly enhance INPEX’s business portfolio, marking a strategic expansion in its oil and gas operations.