Norway To Simplify Licensing Rules

Friday, June 09, 2000
Norway's government wants to let firms other than pure oil companies apply for stakes in offshore oil and gas licenses as part of a drive to simplify the sector and attract investments.

Government officials said smaller oil companies, downstream companies and the supply industry could take stakes in licenses on the shelf if the regulations are changed. Currently only pure oil and gas firms are allowed to apply.

Analysts say that companies like offshore supply group Aker Maritime are among possible new contenders for stakes.

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