Johan Sverdrup, the most important oil discovery in Norway in decades, could yield a recovery rate as high as 70 percent, according to Statoil, the country’s largest energy company and operator of the field. What seems like Norway’s third largest discovery ever as well as the biggest since 1974, could hold ... Read More...
Oil and Gas industry in Norway
Norway‘s largest energy company Statoil recently expressed its interest in pursuing exploration for oil and gas off the east coast of Canada. The oil company announced that it found between 300 and 600 million barrels of recoverable oil in the Bay du Nord, 500 km northeast of St John‘s in August ... Read More...
Norway was one of the six countries invited to invest in Iran‘s oil and gas sector. Iran holds the world‘s third largest proven oil reserves and the second largest natural gas reserves. The oil reserves in Iran are estimated at more than 560 billion barrels, where 140 billion barrels are ... Read More...
The Norwegian Petroleum Directorate (NPD) recently increased its estimate of undiscovered recoverable oil and gas resources in Norway. The increase was 16% to 18.74 billion barrels of oil equivalent, up from its last estimate made in 2011 of 16.17 billion boe. The increase is due to resources in the Barents Sea ... Read More...