New Coalition To Provide Incentives But No Major Change
BMI View: The incoming Conservative coalition could have made significant changes to improve the prospects of Norway's declining oil production, including reversing tax increases and opening new controversial areas to drilling. It now appears that little will change, however incentives being considered for development of mature areas could help stem production decline before Svedrup and Castberg be gin production.
As the new Norwegian minority government prepares to take office on October 14, more det ails are emerging around policy developments proposed for the oil and gas sector. Following the election results , which saw the Conservative s join with the Progress Party to form a minority coalition government to oust the Labour -led government , a number of major oil and gas issues were brought to the bargaining table.
No Progress On Lofoten And Vesteralen
|Oil Output In Long Term Decline|
|Norway Oil Production, 2002-2022 ('000 b/d)|