Friday 17 March 2017

Up to 12 oil and gas projects off Norway could be sanctioned by oil companies this year, the Norwegian oil and energy minister told Reuters on Thursday, suggesting that activity in the sector could be on the rise after a two-year slump.

"There is a possibility that there can be 10 to 12 projects sanctioned on the Norweigan Continental Shelf in 2017," Terje Soeviknes said on the sidelines of an oil conference. "Some of these could be moved to 2018 though."

Five field development plans were presented to authorities for approval last year