Norway’s biggest oil and gas companies are reviving exploration plans in Arctic waters, as the government agitates for fresh discoveries in the Barents Sea to secure the country’s future as a key energy supplier to Europe.
A group of Western European nations led by Germany and France have committed to massively ramping up the production of clean energy from wind turbines in the North Sea, to both meet climate targets and reduce their strategic energy dependence on Russia.
The European Union and Norway will form a “Green Alliance” to bolster cooperation in clean industries like carbon capture and storage and hydrogen as they look to strengthen the region’s potential as an energy technology hub.
Odfjell Drilling has announced it has signed two letters of intent (LOI) for its Deepsea Atlantic to be used in the North Sea for a sum of $290 million.
SLB UK (NYSE: SLB) workers in Norway will strike this week having failed to reach agreement with their employer, amid reports that staff are “grossly underpaid” and overworked.
Norway earned 528 billion kroner ($50 billion) from its direct ownership of oil and gas licenses last year, more than five times the amount earned in a normal year, as the country became Europe’s biggest supplier of natural gas after Russia’s invasion of Ukraine.
A group of SLB (NYSE: SLB) employees from the UK are to strike in the Norwegian North Sea after a union claimed they’ve been overworked and “grossly underpaid”.
As Norway predicts Russian spies will target its energy sector, the UK oil and gas trade body said it is continuing with "regular engagements" with the UK government on any threats on this side of the North Sea.
Amid a wall of screens in the control room of Equinor ASA’s Johan Sverdrup oil field in the North Sea ticks a tally of the day’s production — and a measure of Norway’s growing importance to Europe’s energy security.
Screening legacy wells can be more important than 3D seismic when picking storage areas, Elaine Campbell said. “They provide valuable data but they’re also likely to be the highest risk to containment,” the Storegga official said.