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Strengthened faith in the Barents Sea

The Norwegian Petroleum Directorate (NPD) is adjusting its expectations when it comes to undiscovered resources in central parts of the Barents Sea – upward. That reinforces Lundin Norway’s belief that new discoveries will be made in our most unexplored waters.

“We have been among the most active companies in the Barents Sea in recent years, and that is a role we plan to maintain. The most recent analyses from the NPD confirm that this is an area worthy of commitment, says Lundin Norway’s Managing Director, Kristin Færøvik.

In connection with presentation of The Shelf in 2019, the NPD writes that more than half of the resources on the Norwegian shelf have yet to be discovered and produced.

“However, the expectations for undiscovered resources in central parts of the Barents Sea have been increased due to the mapping of several prospects and a lot of good work in the production licenses,” according to the NPD’s press release.

“We will maintain an active exploration program for the Barents Sea and we will be among those who lead the way in an unexplored but very exciting area,” says Færøvik.

Top photo: Aleksander Nordahl