Norwegian Barents Sea Drilling Set For Record lweb.es/f2660 02.15.2017
Explorers look set to drill a record number of wells in Norway’s Arctic waters this year. The Norwegian Barents Sea may contain as much as half the country’s unexplored resources, according to the Norwegian Petroleum Directorate. The remote area off the country’s northern tip enjoys the benefits of the Gulf Stream, meaning that unlike the rest of the Arctic, it’s largely ice-free. The prospect that industry observers will be watching most closely is Statoil’s Korpfjell well near the Russian border. It could contain as much as 10 billion barrels of oil equivalent.