Norway’s Energy Minister Terje Aasland has reaffirmed the country’s commitment to expanding offshore gas and oil production, stating, “We will develop, not dismantle, our activities on the continental shelf.” This week, three gas fields—Albasgel, Vest Ekofisk, and Tonmeliten Gamma—will reopen by 2028 after being closed for nearly 30 years, a move that has caused concern among environmentalists. This reopening aims to maintain oil and gas production at stable levels through the 2020s.
With 97 offshore oil fields currently, and expectations to exceed 100 within two years, Norway’s production is crucial for Europe’s energy security, particularly in light of the energy crisis exacerbated by the Ukraine war. Aasland emphasized the importance of exploration and investment, as Norway faces increased demand for oil and gas.
Critics, including the left-wing Socialist Party, have condemned the government’s decision as “greenwashing,” arguing it contradicts environmental advice. Equinor, Norway’s state-controlled energy company, is also focused on maintaining production levels of 1.2 million barrels per day until 2035 while investing $6 billion per year in new projects.
Aasland highlighted the importance of job security for the 210,000 individuals in the energy sector, asserting Norway’s role as a reliable energy supplier amid heightened demands from Europe. Norway’s high but consistent tax rates on oil and gas operations are seen as favorable for attracting investment, contrasting with the UK’s restrictive stance on new oil and gas exploration. Overall, Norway’s strategy indicates a strong focus on continuing production and drilling into the 2030s and beyond.
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