By: Franyi Sarmiento, Ph.D., Inspenet, July 7, 2022
Norway’s Ministry of Energy said this week that it agreed to review permits for the Troll, Gina Krog, Duva, Oseberg, Asgard and Mikkel fields. The move will allow the country to keep production at full speed into next year, helping to replace Russian flows that have plummeted amid the war in Ukraine and sanctions on Moscow.
“The most important thing Norway can do in today’s demanding energy situation for Europe and the world is to make it easier for companies to maintain the current high production,” Minister of Petroleum and Energy Terje Aasland said in a statement. “Companies are continually evaluating the opportunities they have to deliver more gas and oil.”
Gas prices in Europe have soared to the highest level in nearly four months as shipments from Russia fall to multi-year lows and a key gas export facility in the U.S. suffers a prolonged outage.
The production permits affected by the government’s decision cover volumes to be produced in both 2022 and 2023, and the adjustments have already been accounted for in Norway’s sales forecast for this year, the ministry said.
The government previously approved increased production from several fields in March to maintain exports during the summer.
This material from the PetroBanca portal was edited for clarity, style and length.
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