Norway Announces Oil Licensing Round in Mature Areas

Norway announced today the latest oil licensing round in mature areas on the Norwegian Continental Shelf. Norway seems to be scrambling to find new oil on fears that it will see declining oil production starting in 2023. Not enough investments. 

The last round of exploration in Norway came up dry, but that was for frontier areas. This is for North Sea, and one would think the prospects would be better.

 

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