The new report, prepared by Rystad Energy, the independent oil and gas consulting services, suggests that Norwegian Arctic waters will be more important with regards to energy resources, than the North Sea after 2030.
The research done by Rystad Energy envisions the development of eight field centers in the region. One of the biggest centers will be located in the south – eastern part of Norway's Barents Sea, near the marine border of Russia.
The report titled "North Norwegian Oil and Gas Activity Level" suggests that up to €25 billion will be invested in the Norwegian Sea and the Barents Sea by year 2030 and that the area by 2040 will be Norway's biggest oil producing region.
The analysis, which is commissioned by the organizations PetroArctic, ProBarents, Knowledge Park North and Innovation Norway, estimates the resource potential of the waters off northern Norway to 27 billion barrels of oil equivalents.
For more information about the report and Rystad Energy consulting services, please visit the website.