Monday 17 December 2018

The area fee rates in Section 39 (1) of the Petroleum Regulations will be adjusted effective 1 January 2019.

The Statistics Norway (SSB) consumer price index is the basis for the adjustment. The new rates are as follows:

"After expiration of the period stipulated pursuant to Section 3-9 (1)(1), the area fee will be as follows: For the first year, the fee is NOK 38 000 per km² , for the second year the fee is NOK 76 000 per km² and the fee is NOK 153 000 per km² per year for the subsequent years."

Reference is made to the Regulations relating to changes to Regulations to the Petroleum Activities Act of 21 November 2018 no. 1757 (FOR-2018-11-21-1757).