![]() ![]() Norway is already pumping oil and gas from two fields in the Barents - Goliat and Snohvit. “Even if we want to maintain production, we have to explore more, we have to find more.” ![]() “The status quo is not an option,” Torger Rod, chief executive officer of Barents-focused energy producer Var Energi ASA, said in an interview in Hammerfest, the world’s northernmost large town. ![]() Norway has become Europe’s largest supplier of natural gas and is under growing pressure to pump more of the fuel to its neighbors as the continent severs its remaining energy ties with Moscow. Russia’s invasion of Ukraine changed everything. In recent years, there have been growing doubts about how much of these untapped resources would eventually be produced and exported. ![]() But exploration successes have been few and far between and the lack of infrastructure has made development difficult. (Bloomberg) - Norway’s biggest oil and gas companies are reviving exploration plans in Arctic waters, as the government agitates for fresh discoveries in the Barents Sea to secure the country’s future as a key energy supplier to Europe.Įstimated to hold more than 60% of Norway’s undiscovered hydrocarbon resources, the Barents Sea has long been seen as the future of the country’s oil and gas industry. ![]()
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