Norway's oil & gas exploration has dropped around 50% this year

Author: Eamonn Sheridan | Category: News

I should clarify ... the number of exploration wells drilled in 2020 is projected at 30, from 57 last year.

  • That's according to the Norwegian Petroleum Directorate (NPD).
Reuters carried the info on Tuesday ICYMI, link here

NPD citing the usual reasons:
  • decline in demand for oil
  • lower prices
have led oil companies to reduce their exploration budgets for the year and postpone a number of exploration wells

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