So, why the hell would....

The Doctor

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What do drug dealers have to do with countries trying to achieve their clean energy goals...?
They're both dealers who are trying to abstain from using the drug they sell...
Norway Desperately Needs Large Oil Discoveries
By Tsvetana Paraskova - Jan 15, 2018

Thanks to costs cuts and large oil discoveries made before the oil price crash, Norway will be able to sustain its oil and gas production over the next five years. But reduced exploration drilling and lack of big discoveries in the past two years spell trouble for Western Europe’s biggest oil and gas producer after 2023, authorities fear.

Nearly two-thirds of the undiscovered resources are thought to be located in the Barents Sea, the Norwegian Petroleum Directorate (NPD) directorate said last week in its review of the Norwegian Continental Shelf in 2017.

However, last year’s exploration campaign in Norway’s Arctic was a flop. Oil companies are not giving up on Barents Sea exploration, but firms and authorities alike have now lowered expectations about the possibility of a huge discovery in those areas.

“In the part of the Barents Sea that’s currently open, you’ve sort of tried the elephants -- the big opportunities,” Bente Nyland, Director General of the Norwegian Petroleum Directorate, told Bloomberg in a recent interview. “You’re now down to the next generation in size,” Nyland noted.

The authority would be happy with any discovery of around 500 million barrels of oil, Nyland told Bloomberg.

[...]

Norway needs more, and larger, oil discoveries, and sooner rather than later.

“If petroleum production is to be maintained at the current level beyond 2025, it is absolutely essential that additional profitable resources are proven, also larger discoveries,” the NPD said.

The need for more exploration and larger discoveries was the underlying theme of the Directorate’s review of 2017. “Too few exploration wells”, “only minor discoveries”, and “exploration activity must increase” were phrases used too often in an otherwise positive review that showed record gas production, cost cuts across the board, and leveling off of the decline in investments.

Norway’s total oil and gas production increased for a fourth straight year in 2017, thanks to higher gas production. Oil production, on the other hand, dropped to 1.59 million bpd from 1.61 million bpd in 2016, down 2 percent, mostly due to an unplanned maintenance shutdown at the Goliat oil field. This year, oil production is estimated to drop by another 2 percent to 1.55 million bpd, and the decline is expected to continue until 2020, when the giant Johan Sverdrup—expected to start production in late 2019—will help Norway to increase its oil production until 2023, the NPD said.

The total oil and gas production increase will continue toward 2023 – perhaps even reaching the level of the record year 2004, the authority said, but noted that back in 2004, oil accounted for most of the production, while in 2023, gas will account for about half of the production.

While Norway’s oil production is expected to increase over the next five years, after 2023 the industry faces another decline if no large discovery is made soon.

Oil Price dot com
 

The Doctor

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No I'm not. I object to them telling me to stop using oil because it will destroy the planet while they sell 1.5 million barrels a day.
They're not only continuing to sell 1.5 million barrels a day, they're trying to sell even more. Although, technically, apart from Statoil (their national oil company), Norway doesn't actually sell the oil

JANUARY 16, 2018 / 9:01 AM / A DAY AGO
Norway awards record 75 oil exploration licenses
Joachim Dagenborg, Nerijus Adomaitis

SANDEFJORD, Norway (Reuters) - Norway has awarded a record 75 offshore oil exploration licenses, to Statoil, Aker BP Shell, Total and ConocoPhillips among others, the energy ministry said on Tuesday.

The licenses comprised 45 in the North Sea, 22 in the Norwegian Sea and eight in the Barents Sea and were awarded in a so-called annual predefined areas (APA) licensing round, introduced by Norway in 2003 to encourage exploration and development of discoveries near existing infrastructure.

“The number of licenses is the highest ever awarded in a licensing round on the Norwegian continental shelf. Access to new, prospective exploration acreage is a central pillar in the government’s petroleum policy,” Energy Minister Terje Soeviknes said in a statement.

The 75 licenses were awarded to 34 firms, of which 19 won the right to lead projects.

Environmentalists have criticized the expansion of exploration acreage via APA rounds in the Barents Sea, saying that such moves into a largely unexplored area with only two producing fields exceed the original purpose of the rounds.

[...]

Reuters
 

Martin Mayers

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we don't. Almost all of Norways oil and gas is used in Europe, you know the place screaming the most about how fossils fuels are going to kill us all!
Right. So why are you getting your knickers in a twist? They're looking after number one. They're hypocrites of course, but so is everyone, we'll all put national interests first whilst casting aside personal morality and beliefs. Don't pretend the US is any different. You're just apparently not quite as good at Norway at it.
 
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