politics
Norway Reopens Three North Sea Oil and Gas Fields Closed Since 1998
The Norwegian government has approved the re-development of three North Sea fields run by ConocoPhillips that will reopen in 2028 and operate for 20 years. Gas will flow by pipeline to Germany and light oil to the UK as Oslo moves to exploit 70 new blocks across multiple seas. Officials cited European energy security needs heightened by Russia’s invasion of Ukraine and conflict in the Middle East.
May 6, 1:19 PM·2m read3 sources
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Norway has approved the re-development of three North Sea oil-and-gas fields that were closed in 1998. The fields, run by ConocoPhillips, are set to reopen in 2028 and are predicted to be in operation for 20 years. After redevelopment they will pump gas and light oil, with the gas sent by pipeline to Germany and the light oil sent to the UK.
The Norwegian government is keen to further exploit its resources in the North Sea, the Norwegian Sea and the Barents Sea. It plans to access 70 blocks identified on the seabed. Prime Minister Jonas Gahr Støre said Norway’s oil and gas industry is vital to Norway and to Europe.
Energy minister Terje Aasland stated that Norwegian production of oil and gas is an important contribution to energy security in Europe. Developing new gas fields allows Norway to maintain high supply levels over the long term. This has become all the more crucial since Russia’s full-scale invasion of Ukraine and the conflict in the Middle East.
Steinar Våge, ConocoPhillips’ European president, said by utilising existing infrastructure the company can produce substantial resources at low cost and strengthen gas exports to Europe. The UK spent £20 billion buying oil and gas from Norway last year. The three fields were closed about 30 years ago.
Thanks to new technology they have become accessible again. They are believed to contain enough fuel to heat millions of homes. Meanwhile drilling at Britain’s Rosebank, its largest untapped oil field, and at the Jackdaw gas field has been halted after legal challenges on climate grounds.
A spokesman for Offshore Energies UK said the discrepancy in success in the two different regions of the North Sea is not dictated by geology. It is entirely determined by how respective governments treat oil and gas resources through policy, regulation and taxation.
