Norway

Norwegian oil firm chooses Aker, Sevan, TechnipFMC and others to continue studying $8-billion-plus Barents Sea development.

Exploration test could yield as much as 200+ million BOE.

More time and money are needed for Johan Castberg and others, while government looks to boost hydrogen research.

As Canada, Greenland, and even Norway shy away from developing their Arctic oil and gas resources, only Russia and the US remain in the game as Alaska seeks to renew interest in exploration and development of its North Slope.

Operator hands out early engineering contracts to its alliance partners related to Norwegian North Sea development.

New reserves will likely be developed via subsea tieback

The North Sea project is set to include 23 subsea, oil-producing wells tied into four subsea templates to tap an estimated 200 million bbl of oil.

Four licenses are awarded to seven oil companies as this round sees less interest than previous ones.

Norway appears to be taking a dual approach to energy transition. In its just-released energy white paper, the Norwegian government says it is committed to producing renewable energy and bolstering its power grid but isn’t willing to halt development of its oil and gas resources.

The list of potential bidders for Norway’s first tender for offshore wind farm licenses is long. More than two dozen companies and joint ventures from throughout Europe are likely to participate in the tender planned for later this year.