May

18

 It's a harsh environment to drill in, and it's interesting that they would pick this time to begin the exploration process.

"Norway Offers New Offshore Drilling Licenses in Barents Sea"

Norway awarded on Wednesday 10 new licenses for offshore oil and gas exploration in the Barents Sea, including three in previously untouched waters near the Russian border. The Oil Ministry said it is the first time new acreage has been opened for drilling in Norwegian waters in 20 years.

"The potential is huge," Oil Minister Tord Lien said. "If the companies are successful in their exploration, Northern Norway will enter a new era."


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