Report: Exploration to be slashed in half in Norway

The Norwegian Petroleum Directorate predicts a 50 percent cut in exploration activity on the Norwegian Shelf this year and attributes this development to the very low oil price.

Det globale kollaps i oliepriserne ser ud til at få store konsekvenser for efterforskningen på den norske sokkel. | Photo: Harald Pettersen - Statoil

BY MATHIES TOFT

Norwegian Petroleum Directorate has just released a particularly gloomy prediction for the exploration activity on the Norwegian Shelf.

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