Barents comes into focus for Norway
There's a lot more gas and oil to be found in the Norwegian Arctic, if the explorers can be persuaded to look for it
Norway is pinning its hopes for the future of its hydrocarbons industry on the Barents Sea. Nine of the 12 exploration licences issued in its 24th Licensing Round are in the Barents, while the government is keen to stress the hydrocarbons potential of newly-surveyed parts of the Arctic region. The licensing round, whose outcome was announced on June 18, resulted in seven licenses being awarded in the northern Barents—two operated by Aker BP, two by Spirit and one each by Equinor, OMV and Lundin. Two licences in the southern Barents both went to Equinor. Two of three licences awards in the Norwegian Sea are to be operated by Equinor with the other going to a Shell-led group. The Barents focus
Also in this section
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
