Norway Plans To Carry On Oil Production While Also Developing Green Energy - Gov't

MURMANSK (UrduPoint News / Sputnik - 11th June, 2021) Norway will continue its oil and gas production for as long as reserves permit alongside developing green energy sources, Minister of Petroleum and Energy, Tina Bru, said on Friday.

Earlier in the day, the Norwegian government presented a new long-term energy strategy which pays considerable attention to the development of green technologies.

"The main goal of the government's oil policy � to facilitate long-term profitable production in the oil and gas industry � remains unchanged," Bru said, as quoted by Norwegian broadcaster NRK.

According to the Verdens Gang tabloid, the Norwegian authorities aren't yet ready to say when the country will stop its oil production.

"We intend to cut emissions, but not to freeze development. Oil production has been taking place on the Norwegian shelf for 50 years. As the resources grow scarcer, this activity will be gradually winding down," Prime Minister Erna Solberg said, presenting the strategy.

In March, Italian oil giant Eni announced that its Norway subsidiary, Var Energi, had discovered new deposits in the Barents Sea, estimated to contain 65-100 million barrels of oil equivalent.