Offshore

Fewer companies hunting for Norwegian oil

According to Norwegian media Sysla, the number of companies with exploration licenses granted through the TFO program has plunged by almost 40 percent since 2013. However the Norwegian Ministry of Petroleum and Energy is not concerned and notes that the number of extraction licenses remains stable.
Photo: Helge Hansen, Statoil
Photo: Helge Hansen, Statoil
by SØREN PICO

Since the record year of 2013, the number of exploration licenses for new oil and gas in known areas has significantly declined on the Norwegian North Sea Shelf.

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