Looking for a specific product?

Make a search for products & suppliers, articles & news.

Northern areas could generate up to NOK 55 billion in added value

Opening up more northern areas for the oil industry could create between 13,000 and 37,000 jobs, and from NOK 26-55 billions in added value.

Opening up for oil drilling in places further north in Norway could lead to somewhere between 440 and 1,100 new jobs on average each year, according to a report by Menon Business Economics.

However, it became clear on Friday that the Minister of Oil and Energy, Ola Borten Moe, wants to leave certain areas untouched for now, including Lofoten and Vesterålen.

The ministry surprised his audience on Friday, when he said that he wanted to give the area more time, and that opening up for drilling at this time may harm the fisheries industry. He was met with strong reactions form local fishermen when he traveled up to the area this week, which has affected his decision, Borten Moe explains.

Meanwhile, he is still open toward opening up the Barents Sea for drilling, another controversial area.

The estimated average increase in regional value in the case of an expansion for all areas up north, could have been between NOK 800 million and NOK 1,6 billion, depending on whether it is based on a low or high level of employment.

"It's important to highlight that these are estimates, Borten Moe told NRK before yesterday's meeting. "However, what we know from other areas in Norway is that activities at sea have a significant ripple effect on the mainland," Borten Moe explains.

"An increase in activity on this level will be reflected in all areas of society. Everything from primary activities to travel and the service industry. It's a big boost for growth in the regional and the local community," Borten Moe tells NRK.

Related news

Latest news

TechnipFMC named top Petroleum International Contractor by ENR

This accomplishment places us in front of companies such as Petrofac,

The world’s energy demand will peak in 2035 prompting a reshaping of energy investment

The electrification trend is already enveloping the automotive industry.

DNV GL launches revised design standard and new certification guideline for floating wind turbines

The role of offshore wind, including floating offshore wind energy, 

Green Corridor JIP delivers innovative bulk carrier designs for a low emissions future

When the IMO confirmed the 2020 deadline for the 0.5 per cent global sulphur cap in 2016, 

DNV GL launches Operations & Analytics Centre in India to enable 24/7 monitoring for renewable assets globally

The new global monitoring centre is especially significant to independent power providers, 

DNV GL awards AiP to Jiangnan Shipyard for 93K cbm very large ethane carrier design “PANDA E”

The flexible, efficient and environmentally friendly design was developed by Jiangnan Shipyard in cooperation with GTT,

DNV GL starts phase II of project to examine the impact of phase-contamination on oil flow meters

Accurate measurement of the production of oil fields is an important means ...

Important message at the “AKVAculture Day”

We won’t be able to create growth unless we can handle the industry’s challenges.

Visit from the Ministry of Trade Industry and Fisheries

The Ministry visited in order to learn more about the industry.