ShippingWatch

The Barents Sea new hot-spot for the oil industry

The Barents Sea is not only the most accessible region in the Arctic. It is also the new hot-spot for companies looking to get at the new resources in the region.

Photo: Ole Jørgen Bratland - Statoil

The open parts of the Barents Sea account for 1.5 times as much as the explored regions of the North Sea, but they are nowhere near as thoroughly explored. Now the big oil companies, with Shell, Statoil, and Conoco in the lead, are lining up to get access to the resources, says Offshore.no, which points at the Barents Sea as new, major oil hot-spot.

When the Norwegian government last June awarded 20 explorations licenses on 80 blocks in the Barents Sea, the licenses went to 29 different companies.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Container reliability hit new low at the end of 2021

Schedule reliability in the container industry set a new negative record in December 2021 with one route in particular hit hard with an on-time arrival rate of only 10 percent, show figures from Sea-Intelligence. Problems in supply chains are still ”a huge burden,” says Hapag-Lloyd.

DNB Markets says oil price could hit USD 100 a barrel

An optimistic scenario could see the oil price go above USD 100 per barrel, DNB Markets forecasts in its latest oil market report. It won’t take much for it to happen, oil analyst Helge André Martinsen says to ShippingWatch.

Cadeler secures two new deals

Shipping line Cadeler, which operates wind installation ships, lands two new deals, one with Vestas, the other with an unnamed customer.

Further reading

Related articles

Latest news

See all jobs