Norway’s Oil Boom Is Back

Commenting on Equinor’s oil and gas discovery near the Fram field in the Norwegian North Sea, announced on 6 November 2019, senior analyst Palzor Shenga at Rystad Energy said: “After a string of recent discoveries, 2019 is shaping up to be the most successful exploration year since 2014 on the Norwegian Continental Shelf (NCS).” Rystad Energy estimates the discovery to hold recoverable resources of around 70 million barrels of oil equivalent (boe). This will bring cumulative discoveries year-to-date to 520 million boe, surpassing…