When will MK get the memo about Energy security?Norwegian oil...

When will MK get the memo about Energy security?

Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe.

Between 40 and 50 wells are expected to be completed, up from 34 last year, the Norwegian Offshore Directorate said Thursday. More than half of the 23 wildcat wells undertaken last year found hydrocarbons, it said.

The country aims to keep oil and gas production stable in the coming years, the directorate said, with investments in ongoing field developments forecast to hit a record high of 77 billion kroner ($7.5 billion) this year.