Norway's offshore sector boosted by wave of mergers
Strategic tie-ups are providing some badly needed lifeblood for the Norwegian offshore sector
Gazprom may have given up on its plans to get a toehold in Norway's upstream via an alliance with Austria's OMV; but the current wave of mergers and asset consolidations are beefing up investment prospects for an offshore sector eager to stem future production declines. In October, Gazprom abandoned plans to swap assets with Austria's OMV, a move under discussion for two years. The deal would have given the Russian state-backed company a 38.5% stake in OMV's Norwegian subsidiary, OMV Norge, in return for a share in its Achimov development in Russia. Instead, OMV has agreed to buy a 24.98% stake in the 4A and 5A phases at Achimov for an undisclosed cash sum. The firms say the deal's terms wil
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
