Oil giant Equinor is behind the project, but renewables still make up only a tiny fraction of its total energy production.
Norway’s Ministry of Petroleum and Energy has granted approval for 19 oil and gas projects on the Norwegian Continental Shelf, totaling investments of more than $18.5 billion (NOK 200 billion).
The primary exploration target for wells 25/2-24 S and A was to prove and delineate remaining petroleum deposits in the Frigg Formation in the Øst Frigg Beta structure, which produced gas from 1988 to 1997.
Norway appears to remain firmly committed to its oil and gas operations despite leading the green transition
Earlier this month, the Norwegian energy ministry said the country would be stepping up oil and gas exploration in the Norwegian continental shelf to improve its energy security and the energy security of its friends and neighbors in Europe.
OSLO, May 11, 2023 – Norway has launched its latest oil and gas bid round with 92 new blocks on offer, the Ministry of Petroleum and Energy announced on Monday.
Norway on Tuesday said it plans to offer a record number of gas and oil exploration blocks in the Arctic, with environmental NGOs condemning an “aggressive” promotion of fossil fuels.
OSLO, Jan 9 (Reuters) – Norway’s oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday.
Norway supplies around 50 percent of Europe’s domestic gas volumes which equates to around 25 percent of the continent’s total gas
Norway’s energy ministry has approved three development projects to increase gas output on the Norwegian Continental Shelf