Acquisition of seismic data from day one

“We will begin a seismic survey of the petroleum resources in the previously disputed area as soon as the maritime delimitation treaty between Norway and Russia enters into force. The Government hopes to open these areas for petroleum activities, if the impact assessment indicates that this would be justified,” said Prime Minister Jens Stoltenberg.

The maritime delimitation treaty will enter into force on 7 July this year, i.e. 30 days after the exchange of the instruments of ratification, which took place in Oslo yesterday.

The area offers new opportunities for petroleum activity in the north, which could increase value creation and local employment. Before the area can be opened for exploration and production, the authorities will carry out a thorough process, including an impact assessment.

“The treaty will also lead to closer cooperation between Norway and Russia, both between our authorities and between our business communities,” said Mr Stoltenberg.

The part of the Barents Sea that has become part of the Norwegian continental shelf under the maritime delimitation treaty may contain substantial petroleum resources. As there is limited knowledge about these resources, the Government has decided that seismic data should be acquired in the area in question. The Government has therefore earmarked NOK 180 million for seismic surveys in the north in the summer season in 2011 and 2012.

“In order to further develop petroleum activities on the Norwegian continental shelf, we must have knowledge about the resources to be found there. It is therefore very important to acquire seismic data in the southeastern part of the Barents Sea in order to understand the area and assess the potential for future activity and the impact this would have in the north,” said Minister of Petroleum and Energy Ola Borten Moe.

In keeping with usual practice, the acquisition of seismic data in those parts of the continental shelf that have not been opened for petroleum activities will be carried out under the auspices of the Petroleum Directorate. On 10 June, the Directorate will begin collecting seismic date in the waters around Jan Mayen, and the acquisition of such data in the southeastern part of the Barents Sea will begin when the maritime delimitation treaty has entered into force.

The data acquisition will be carried out using the vessel M/V Harrier Explorer, which is operated by PGS.