Norway Wants Oil & Gas Licensing Round before Christmas

Norway hopes to launch its 23rd oil and gas licensing round before Christmas, though that timeline is still subject to change, Bente Nyland, the head of the Norwegian Petroleum Directorate said on Wednesday.

Norway earlier said it plans to award oil and gas licenses in new offshore areas, including in an important Arctic zone bordering Russia, in the first half of 2016 and expects applications in the second half of 2015.

The licencing round will be a key source of revenue for Norway's top seismic explorers including TGS, PGS , Dolphin, Polarcus and EMGS.

Reporting by Balazs Koranyi