Norway has been producing oil and gas for almost half a century, since the first production at the Ekofisk field in 1971. According to the Norwegian Petroleum Directorate, when it comes to oil and gas production, the Scandinavian country is not halfway done yet.
Since 1990, total resources, including the estimate for undiscovered resources in Norway, have increased by more than 40 percent, the Norwegian Petroleum Directorate said on Thursday.
“In fact, more resources than we expected overall in 1990 have been proven, and there is still a lot left to find. In order to extract all the values, the industry must cooperate on utilizing the infrastructure that exists and use the available technology,” the country’s oil directorate said.