Three New Licenses to Oil Company North Energy

The company’s CEO Erik Karlstrøm is very pleased with the allocation and believes that the timing for the expansion is just right:

- The level of activity in the Barents Sea is still rather low, but we believe that most of the activity gradually will turn north, he says to Norwegian newspaper Altaposten. –We are ahead of our time and wish to have a focus on the Barents Sea.

North Energy is based in Alta, Finnmark County, and has 40 employees, according to the company’s web site. The company was established in 2007 and has several northern Norwegian companies as investors. In May 2009 the company received its operatorship on the Norwegian continental shelf in April 2009.

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