Arctic oil being looked at as very few unexplored basins are left

Cooperation, technology called keys to arctic work

Tapping the undeveloped oil and gas potential of the Arctic requires cooperation between nations and new technology, speakers told a US-Norway oil and gas summit in Houston on Mar. 2.

“It is our hope that the huge successes we have experienced in the North Sea and the Norwegian Sea can be repeated in the Barents Sea,” Norwegian Oil Minister Thorhild Widvey said. Norway plans a 19th concession round this summer that will include the Barents Sea.

Oil & Gas Journal