Japanese upstream firm Inpex has won eight oil and gas exploration permits offshore Norway, expanding its operations in the country, Inpex said today.
Inpex was awarded exploration licences PL1263, PL318D, PL1264, PL1257, and PL636D located between the northern North Sea and the southern Norwegian Sea, along with PL 1276, PL1274 and PL1194C in the northern Norwegian Sea through its local subsidiary Inpex Idemitsu Norge (IIN).
The successful bid was part of the awards in the pre-defined areas (APA) 2024 licensing round. IIN secured five licenses in the 2023 APA round.
The APA rounds are held every year and focus on mature areas of the Norwegian continental shelf. The aim is to facilitate the discovery and production of remaining oil and gas resources in these areas before existing infrastructure is shut down. In the latest round, 33 of the licences are in the North Sea, 19 in the Norwegian Sea and one in the Barents Sea.
The latest licences will contribute to expanding its Norwegian business portfolio, Inpex said, given the potential of jointly developing the new assets with existing assets in the surrounding area. The company has continued stable production at the Snorre and Fram oil fields in the northern North Sea.
The Japanese firm aims to strengthen its upstream business as part of its long-term strategy, while it invests in renewable energy such as green ammonia.
