The experts believe that half of the future Norwegian oil and gas reserves are located in the Barents Sea.
The production in 2025 will be at between 400,000 and 500,000 barrels per day, according to figures from the market research company Rystad Energy.
North Sea is still important, but the Barents Sea is the “place” to watch now. The largest discoveries on the Norwegian continental shelf that where there as yet are no development planned are located in the Barents Sea, oil analyst Tore Guldbrandsøy in Rystad Energy said to Stavanger Aftenblad.
According to NPD (NPD) resource report, which was presented earlier this month, almost half of the recoverable resources that haven’t been developed yet are in the Barents Sea. The remainder is divided fairly equally between the North Sea and Norwegian Sea.
The figures from NPD shows that the amount of oil and gas in the Barents Sea may amount to 18.37 billion barrels.
Source: NTB scanpix / Norway Today