Vol. 3, No. 1
A total of 45 production licenses were just recently awarded in mature areas on the Norwegian continental shelf. The companies have been offered participating interests in 73 blocks or parts of blocks, and 26 companies – including a few of the supermajors – have in this way expanded their acreage portifolio in the North Sea and on the Halten Terrace in the Norwegian Sea.
Glacial meltwater and subaerial erosion after the ice age has sculptured a badlands landscape within Upper Cretaceous clastic sedimentary rocks. Abundant dinosaur fossil bones and skeletons have been exposed making the Dinosaur Provincial Park in Canada the richest dinosaur locality in the world.
Oil is flowing to the surface in several seeps within the license area, and nearby giant fields have been producing for decades. The well Tawke # 1 is certainly being drilled in a proven petroleum province, and the first well by a foreign company in Kurdistan is now testing a huge structure delineated by modern seismic data.
The oil shock of 1973 transformed the global energy picture. As lines of automobiles snaked down the street awaiting their turn at the pumps,the realization dawned that plentiful, cheap energy was not something to be taken for granted. Many governments and leaders in the petroleum industry began asking scientific questions about fossil energy and alternative energy sources. And it is to this environment that the Energy & Geoscience Institute (EGI) at the University of Utah traces its roots.