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
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
