As Norway’s North Sea fields wind down, the replacement remains a day away
Again this year, the Barents Sea was highlighted more for its promise as the replacement for Norway’s declining North Sea fields than for its actual contributions.
Norway’s oil and gas industry will see increased exploration and investment in the coming year, but the majority will take place in the mature provinces of the North and Norwegian seas, delaying Oslo’s efforts to ramp up production in the Barents Sea, where officials estimate two-thirds of the country’s remaining reserves are found.
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