A record number of oil companies have applied for production licenses in mature areas offshore...

|By:, SA News Editor

A record number of oil companies have applied for production licenses in mature areas offshore Norway, where total investments are expected to set a record 204B kroner ($35B) in 2013. High oil prices have boosted exploration activity, and the number of applications shows companies still want to explore predefined areas in the North Sea, Norwegian Sea and Barents Sea.