Norwegian officials are standing behind the nation’s tough offshore exploration fiscal regime, despite warnings of major operators re-focusing on other oil-producing regions and the prospect of a steep drop in future development projects and production.
The Norwegian government and the country’s leading industry organisation instead hope that upcoming drilling campaigns will be successful enough to counter the downbeat outlook.
Norway's Prime Minister Erna Solberg has warned that the country needs more significant discoveries to avoid drastic cuts in state income and the possible diminishment of its world-class oilfield services industry.
