Wow 50% drop since 2000 in norways oil output, wonder is this true.
Why didn't they explore the Arctic already if that's the case?
I done some searching and It seems Norway only really started to explore there since 2012/13 As it was cost prohibitive but with the oil going into the $100+ price bracket it made sense and was worth the risk.
We know Shell spent a motza, approx $7B I think and found nothing, companies are becoming really desperate to find oil nowadays.
No doubt there are huge reserves up there somewhere but
Supposedly the reserves in the Arctic are 75% natural gas and 25% oil.
I think SNE might be the biggest oil find for years and years to come but I'm hoping that's not the case. I'm hoping FAN is bigger
https://en.m.wikipedia.org/wiki/Petroleum_exploration_in_the_Arctic
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