Norway set for PDO bonanza
Tax changes could see 20+ projects take FID
Norwegian continental shelf (NCS) operators are beginning to offer more clarity on their ambitious plans to fast-track discoveries to FID and submission of either new or revised plans for development and operation (PDOs) before a deadline of the end of 2022 to take advantage of temporary tax relief. The number is likely to be high, both on a project and production basis, but how high is still uncertain. In mid-2020, the Norwegian parliament approved changes to the country’s petroleum tax regime, providing accelerated recovery for investments and tax refunds for 2020 and 2021 spending. But the legislation also applies to new projects submitted for PDO before the end of 2022. And the incentive

Also in this section
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats