Pursuant to Section 39 (5) of the Petroleum Regulations, the Norwegian Petroleum Directorate (NPD) has stipulated new area fee rates to apply as of 1 January 2014.
The area fee rates are in line with the proposal that has been submitted to all operators for consultation. At the end of the period stipulated pursuant to Section 3-9 (1) of the Petroleum Act, the new rates in Section 39 (1) of the Petroleum Regulations will be as follows:
- First year: NOK 34 000 per km2
- Second year: NOK 68 000 per km2
- Subsequent years: NOK 137 000 per km2 per year.
When calculating the fee, the area must be rounded down to the nearest whole km2. Production licences that are stratigraphically divided must pay area fees for the seabed area covered by the production licence.