Norway's Lofoten islands
Norway to continue surveying unopened areas
Far from looking towards the sunset of oil and gas production, the Scandinavian nation is keen to build up a better picture of reserves even where E&P is not yet allowed
Perhaps the most striking aspect of Norway’s new white paper on long-term value creation from the country’s energy resources involves its approach to potential reserves that lie in waters currently off-limits to hydrocarbons activity. Some highly prospective acreage, such as the waters around the Arctic Circle Lofoten Islands, is unavailable even for exploratory drilling due to environmental concerns and a preference that full exploitation of licensed areas in less pristine and fragile ecosystems is prioritised. But, while the country’s Ministry for Petroleum and Energy (MPE) emphasises the need to prepare for the energy transition, it shows no appetite for taking drilling in these prohibite
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
