Shell Boosts Natural Gas Production at Norway’s Ormen Lange Field

Norway has been boosting its gas production since 2022 when it overtook Russia as Europe’s top gas supplier. Not a member of the EU, but a NATO founding member and key EU and UK ally, Norway looks to continue providing the gas Europe needs. So companies operating offshore Norway are raising production of gas and oil, with the support of the Norwegian government, which continues to bet on the oil and gas industry and the massive revenues it raises for the country and its sovereign wealth fund, the world’s largest. This month alone, independent Norwegian oil and producer Var Energi announced the startup of its Balder X project in Norway’s North Sea, which will boost output from the Balder field by about 80,000 barrels of oil equivalent per day (boepd). In addition, Equinor said that the Johan Castberg oilfield in the Barents Sea had reached full capacity of 220,000 barrels per day (bpd), just three months after the field in Norway’s Arctic waters came on stream.
Norway expects its oil liquids production to rise by 5.2% in 2025 from 2024, also thanks to the start-up of Johan Castberg. Yet, further exploration efforts and new discoveries would be crucial to slowing the expected decline in Norway’s oil and gas production in the 2030s, the Norwegian authorities have said. By Tsvetana Paraskova for Oilprice.com More Top Reads From Oilprice.com Middle East Oil Disruption Risk Plunges to 4% Centrica Eyes Major Stake in UK Nuclear Power Project China's Oil Imports From Iran Hit Record High Read this article on OilPrice.com View Comments