Norwegian Petroleum Directorate pushes for more exploitation

The Norwegian Petroleum Directorate (NPD) insists on the urgency of investing in the Barents Sea, home to a significant proportion of Norway's untapped continental shelf resources, in order to extend the life of the country's oil and gas sector.

Share:

The Norwegian Petroleum Directorate (NPD) emphasizes the need for increased exploration and exploitation of hydrocarbon resources in the Barents Sea.
This region holds around two-thirds of Norway’s undiscovered reserves.
For the NDP, it is imperative to develop appropriate infrastructure, including a gas pipeline, to exploit these resources effectively.
Without such investment, Norway could see its leading role in the energy sector diminish, as the country anticipates the decline of major fields such as Johan Sverdrup.
The NDP also points out that, without immediate action, Norway risks leaving a large part of its resources untapped, limiting its future production potential.
This could have a significant impact on the country’s economy, which is heavily dependent on revenues generated by the oil and gas sector.

Production scenarios and challenges for the industry

The NDP report presents different production scenarios for the coming decades.
The central scenario forecasts a two-thirds reduction in hydrocarbon production by 2050, while other scenarios envisage a more gradual or more rapid decline, depending on the investments made.
This projection highlights the need for rapid strategic decisions to avoid a drastic drop in production.
The NDP also warns against the risks of extracting gas from oil reservoirs too quickly.
Stopping gas injections prematurely, to maximize oil recovery, could jeopardize total production from these fields in the long term.
Managing these resources requires a balanced approach to avoid future yield losses.

Outlook for the oil and gas sector

To secure its energy future, Norway needs to adopt an ambitious investment strategy.
Development of the Barents Sea is seen as central to extending the life of its oil and gas sector.
A pipeline linking this region to existing infrastructure would not only sustain gas production, but also stabilize Europe’s energy supply.
The decisions taken today will have a direct impact on Norway’s competitiveness in the global hydrocarbon market.
The development of Barents Sea resources, though complex, represents a unique opportunity for the country to maintain its energy influence and secure the future of its industry.

Brazil, Mexico, Argentina, Colombia, Chile, and Peru significantly increase renewable electricity production, reaching nearly 70% of the regional electricity mix, according to a recent Wood Mackenzie study on Latin America's energy sector.
The Canadian government announces an investment of more than $40mn to fund 13 energy projects led by Indigenous communities across the country, aiming to improve energy efficiency and increase local renewable energy use.
The German Ministry of Economy plans to significantly expand aid aimed at reducing industrial electricity costs, increasing eligible companies from 350 to 2,200, at an estimated cost of €4bn ($4.7bn).
A major electricity blackout paralyzed large parts of the Czech Republic, interrupting transport and essential networks, raising immediate economic concerns, and highlighting the vulnerability of energy infrastructures to unforeseen technical incidents.
French greenhouse gas emissions are expected to rise by 0.2% in the first quarter of 2025, indicating a global slowdown in reductions forecast for the full year, according to Citepa, an independent organisation responsible for national monitoring.
The Republican budget bill passed by the U.S. Senate accelerates the phase-out of tax credits for renewable energies, favoring fossil fuels and raising economic concerns among solar and wind industry professionals.
Rapid growth in solar and wind capacities will lead to a significant rise in electricity curtailment in Brazil, as existing transmission infrastructure remains inadequate to handle this massive influx of energy, according to a recent study by consulting firm Wood Mackenzie.
In April 2025, fossil fuels represented 49.5% of South Korea's electricity mix, dropping below the symbolic threshold of 50% for the first time, primarily due to a historic decline in coal-generated electricity production.
The US Senate Finance Committee modifies the '45Z' tax credit to standardize the tax treatment of renewable fuels, thereby encouraging advanced biofuel production starting October 2025.
According to the 2025 report on global energy access, despite notable progress in renewable energy, insufficient targeted financing continues to hinder electricity and clean cooking access, particularly in sub-Saharan Africa.
While advanced economies maintain global energy leadership, China and the United States have significantly progressed in the security and sustainability of their energy systems, according to the World Economic Forum's annual report.
On the sidelines of the US–Africa summit in Luanda, Algiers and Luanda consolidate their energy collaboration to better exploit their oil, gas, and mining potential, targeting a common strategy in regional and international markets.
The UK's Climate Change Committee is urging the government to quickly reduce electricity costs to facilitate the adoption of heat pumps and electric vehicles, judged too slow to achieve the set climate targets.
The European Commission will extend until the end of 2030 an expanded state-aid framework, allowing capitals to fund low-carbon technologies and nuclear power to preserve competitiveness against China and the United States.
Japan's grid operator forecasts an energy shortfall of up to 89 GW by 2050 due to rising demand from semiconductor manufacturing, electric vehicles, and artificial intelligence technologies.
Energy-intensive European industries will be eligible for temporary state aid to mitigate high electricity prices, according to a new regulatory framework proposed by the European Commission under the "Clean Industrial Deal."
Mauritius seeks international investors to swiftly build a floating power plant of around 100 MW, aiming to secure the national energy supply by January 2026 and address current production shortfalls.
Madrid announces immediate energy storage measures while Lisbon secures its electrical grid, responding to the historic outage that affected the entire Iberian Peninsula in late April.
Indonesia has unveiled its new national energy plan, projecting an increase of 69.5 GW in electricity capacity over ten years, largely funded by independent producers, to address rapidly rising domestic demand.
French Minister Agnès Pannier-Runacher condemns the parliamentary moratorium on new renewable energy installations, warning of the potential loss of 150,000 industrial jobs and increased energy dependence on foreign countries.