NPD Bullish on Barents Sea

Norwegian Petroleum Directorate (NPD) said that its estimates indicate that more than half of the oil and gas that has not yet been discovered is located in the Barents Sea.

The rest is distributed between the Norwegian Sea and the North Sea. The opportunities are greatest in the Barents Sea, where vast areas have not yet been explored.

The numbers tell us that the opportunities on the Norwegian Shelf are still significant, and this provides a basis for oil and gas production for many decades to come.

Two fields are currently producing in the Barents Sea, Snøhvit and Goliat. Goliat was proven in 2000, and production started 16 years later. The oil from Goliat is transported from the field by boat.

At that time, the Snøhvit gas field (proven in 1981) was already in operation. The gas from Snøhvit is routed by pipeline to Melkøya outside Hammerfest, where it is cooled into liquid form (LNG, liquefied natural gas).

NPD report places the petroleum activity in the High North into a historical, international and technological framework.

”We hope that the report can contribute in a knowledge-based approach to the debate,” said director general Bente Nyland when she presented the report at the Barents Sea Conference 2019.

Equinor and partners Petoro, Total, Neptune and DEA are already planning for the future. The first thing that will happen is that the Askeladd deposit in the Snøhvit licence will commence production.

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