Norwegian oil companies want to invest USD 28 million in the Arctic

Three giant oil fields in the Barents Sea and one in the northern part of the Norwegian Sea will be subject to huge investments from a number of Norwegian oil companies led by Statoil. It could lead to thousands of new jobs.

Photo: Harald Pettersen/Statoil

Norwegian oil companies – led by Statoil and Eni – are set to invest approximately USD 28 billion in the development of oil fields north of the Arctic Circle. The three giant fields Aasta Hansteen, Skrugard/Havis and Goliat have lit a new spark in the Barents Sea and the northern part of the Norwegian Sea.

“Statoil is now well-established in Harstad. We wish to control activities in the North from the North and be close to activities. Now the challenge is to ensure that we have sufficient capacity to carry out the work in a safe an effective manner”, Erik Haaland, communications manager for Statoil Arctic, said at a conference in Stavanger recently, according to

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