This year the Norwegian Petroleum Directorate(NPD)estimates that there are still 12.9bn cm of oil equivalents in recoverable resources to be tapped-according to the NPD's 2005 resource report.Coupled with high levels of exploration activity and a number of new entrants to the market,the Norwegian petroleum sector is still buoyant,based on forthcoming field developments,a new 19th licensing round-announced in June,offering 64 Barents Sea and Norwegian Sea blocks-and the prospect of future cooperation with Russia over oil and gas potential in the far northern regions of both countries.Denmark has at least eight projects underway,involving either new or existing fields and a sweep through the Dutch North Sea indicates at least five new projects.Nevertheless,Norway is where most activity is currently taking place.
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