Norwegian parliament building in Oslo
Norway’s end-2022 PDO race heats up
The number of projects benefitting from tax breaks is set to top 20
The final two months of the year should see a flurry of submissions of plans for development and operation (PDOs) to Norway’s Ministry of Petroleum and Energy. Firms are seeking to meet an end-of-year deadline for tax breaks introduced during fears of a Covid-influenced slump in future upstream activity in mid-2020. Three PDOs have already gone in during November and December so far, with at least another seven aiming to sneak in before the close of 2022. According to Petroleum Economist analysis, the submissions by dominant Norwegian continental shelf (NCS) producer Equinor of the Irpa and Verdande PDOs and that of Maria Phase 2 by Germany’s Wintershall Dea takes the number of projects gree
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
