Norway accelerates Oil&Gas drilling

Norwegian Continental Shelf companies are making plans to increase drilling in the Arctic region of the Barents Sea.

The Norwegian government is encouraging this move, hoping to discover more oil and gas reserves to bolster energy security and aid European partners in their energy supply.

During a conference in Hammerfest last week, Norway's Petroleum and Energy Minister Terje Aasland urged oil and gas companies to fulfill their social responsibility and leave no stone unturned in their search for natural gas resources in the Barents Sea.

This area is believed to contain most of Norway's undiscovered oil and gas resources.Aasland emphasized that the petroleum adventure in the north has only just begun and stated that the government will assist the Barents Sea industry.

Norway aims to develop its petroleum industry, not liquidate it.