Norwegian Petroleum Directorate Adjust area fee rates

The area fee rates in Section 39 (1) of the Petroleum Regulations will be adjusted starting from 1 January 2024. The basis for this adjustment is changes in Statistics Norway’s (SSB’s) consumer price index.

The new rates are as follows:

After expiry of the period stipulated pursuant to the first sentence of Section 3-9 (1), the area fee shall be as follows: For the first year, the fee is NOK 45 000 per km², for the second year, the fee is NOK 90 000 per km², and the fee is NOK 181 000 per km² per year for subsequent years.

Reference is made to Regulation No. 1642 of 16 October 2023 relating to amendment of Regulations relating to the Petroleum Activities (FOR-2023-10-16-1642) (Norwegian only)