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Tag: Norwegian Offshore Directorate

OMV (OMVJF) discovers gas in a special drilling off the Norwegian coast

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OMV (OMVJF) discovers gas in a special drilling off the Norwegian coast

OMV AG OMVJF, an Austrian energy company, announced that its subsidiary OMV Norge and its partners have discovered a new gas reservoir in the Norwegian Sea. OMV Norge drilled a fast-track well (6605/6-1 S) targeting the Haydn/Monn exploration areas, which led to the successful discovery. The target well was drilled using the semi-submersible drilling rig […]

$1.42 trillion at stake as oil and gas production declines: Norway urged to speed up pace of exploration and technological advancement

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.42 trillion at stake as oil and gas production declines: Norway urged to speed up pace of exploration and technological advancement

While fossil fuel production is expected to decline over time to reach the goal of net-zero production by 2050, the Norwegian Offshore Directorate (NOD), which reports to the Ministry of Energy, has developed three scenarios illustrating a decline in oil and gas production and financial impacts. Over $1.42 trillion (NOK 15 trillion) is at risk […]