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Bloomberg
Equinor ASA will reduce its focus on the frontier areas of the Barents Sea in another blow to Norway’s ambition to build a new big oil province in its Arctic region.
“Our focus going forward will be on the more prolific areas of the Barents Sea,†Tim Dodson, the company’s executive vice president for exploration, said.
That means drilling near existing discoveries such as Johan Castberg and Wisting rather than riskier but potentially more rewarding targets, he said.
Norway has been counting on discoveries in the Barents Sea to limit a decline in its petroleum production expected to start around the middle of the next decade.