The Search for Norwegian Oil and Gas is Expanding

The Norwegian government is opening up 70 different areas—known as blocks—in the North Sea, the Norwegian Sea, and the Barents Sea for exploration of new oil and gas deposits.

The aim is to further develop the oil sector so that it can continue to generate significant value, according to Norwegian Prime Minister Jonas Gahr Støre.

Gahr Støre states in a press release that oil investments lay the foundation for good jobs throughout the country while securing welfare and contributing to Europe’s energy security and stability.

Last year, 75 blocks in Norwegian waters received approval in the licensing round, which was a historic record.

At the same time, the Norwegian government has approved the resumption of gas production that was shut down in the 1980s in the Albuskjell, Vest Ekofisk, and Tommeliten Gamma fields. The plan is for them to remain in operation until 2048.