Friday 22 April 2016

While the oil industry continues to cut jobs, projects and costs amid low crude prices, one region is making a surprise comeback after years of declining activity, company executives and officials say: the Norwegian Arctic.

The search for oil and gas in mature offshore areas in the North Sea is being axed this year due to tighter budgets, but the number of exploration wells in the Norwegian part of the Barents Sea is increasing to 10 in 2016 from seven last year.

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