Oil worth billions outside Norway's Arctic coast
07-04-09
Some 7 bn barrels of oil equivalents are probably hidden under the
continental shelf of northern Norway.
The oil industry and the political opposition parties now step up pressure
on government to extract the resources.
The Norwegian Oil Industry Association (OLF) continues its fight for the
opening of promising areas outside the northern Norway coast for oil and gas
exploration. Together with the political opposition parties the Progress
Party and the Conservative Party, the association now demand that government
speeds up mapping of the unexplored oil and gas resources in this area.
The area outside the Lofoten Archipelago is of special interest for OLF.
According to Lars Arne Ryssdal in OLF, approximately 3,4 bn barrels of oil
equivalents are alone hidden in the Norwegian Sea outside Lofoten. This is
the equivalent of 15 Goliat oil field discoveries.
Both OLF and the opposition parties use strong words in criticizing what
they see as the current government's lack of action to secure a continued
growth in Norwegian oil and gas industry.
If there are no new field developments in the next years, then Norwegian oil
production will be halved in 2014 compared to 2000.
Source:
http://www.barentsobserver.com |