Norway's Barents bounce
The death of Arctic exploration has been greatly exaggerated—in Norway, at least
The words frontier and Arctic have been anathema to most cost-conscious explorers since the oil price headed south, so Norway's efforts to bring the two together by trying to entice drillers to the Barents Sea carried some risks. That this effort has met with some success shows Norway is not your typical oil province—and a fresh discovery is likely to provide a springboard for further activity. Lundin Petroleum's Filicudi discovery in the western Barents Sea, announced in February, may not be the biggest, with a gross resource estimate of 35m-100m barrels of oil equivalent. But its location in the PL533 block is on trend with the Statoil-operated Johan Castberg discovery, just 40km north-wes
Also in this section
13 January 2025
With Namibia, Guyana and Brazil playing starring roles and important innovations being developed, business as usual has never looked so good
13 January 2025
Regional cooperation over the development of gas resources has the potential to bring peace and prosperity to the East Mediterranean
13 January 2025
Significant expansions are underway in both liquefaction and regasification capacity as LNG firms up its position as a long-term solution for the world’s energy needs
10 January 2025
New Petroleum Economist OPEC+ oil survey sees group improve compliance to ensure oil market stability going into 2025
