The Labour Party government has initiated the preparation of a new report on the Norwegian oil and gas industry, with a particular focus on the oil exploration. The document, to be presented to the Storting in 2027, also known as a white paper, will be key in laying the foundation for the country’s energy policy in the coming decades.
According to Prime Minister Jonas Gahr Støre, the oil industry will not be eliminated, but developed with a view to a gradual transition.
We must ensure clear and predictable framework conditions for continued activity on the Norwegian continental shelf.
Støre said, underlining the relevance of the sector for the country’s employment and welfare.
Oil exploration and long-term prospects
The report will address access to new exploration areas, an issue that will set the pace of future production. The Norwegian Platform Directorate projects a decline in production starting in the 2030s, forcing the country to make strategic decisions to avoid an abrupt decline.
Currently, nearly 200,000 jobs are directly or indirectly linked to oil and gas. oil and gas in Norway. This economic weight, together with the role of Norwegian gas as a key source for European energy security since the Russian invasion of Ukraine, justifies the need to ensure a stable framework for long-term investments.
Energy transition as a complementary axis
Energy Minister Terje Aasland has stressed that the report will serve as a tool to facilitate an orderly energy transition.
Norway must actively contribute to the global energy transition and, at the same time, benefit from it.
He noted.
The white paper will integrate measures to maintain the sector’s competitiveness, encourage exploration in key areas, and define the role of oil and gas within a low-emission economy. low-emission economy.. It will also provide the basis for parliamentary decisions on the sector’s access to new areas in the Barents Sea and other strategic regions.
A political debate with European implications
The Labor Party seeks to consolidate a parliamentary majority behind a long-term energy strategy based on stability, exploration and transition. This move also responds to internal and external pressures that demand clarity on Norway’s energy direction. Norwegian energy direction.
Norway is at a crossroads: securing its role as a key supplier to Europe while moving towards a cleaner economy. The report due in 2027 will be decisive in this balance between energy security, sustainability and employment.
Source: Government of Norway
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