Oil Industry Eyes the Arctic

Friday, Mar 06, 2009

The Norwegian oil industry is focusing on winning the battle of developing the Lofoten area in northern Norway first. However, the ambitions for future development projects lie further north in the Arctic.

- The areas outside Nordland and Troms county in northern Norway, are the most important to explore at present, but future development plans for the oil and gas industry will have to include a mapping of the resources further north, in the Arctic, says Lars Arne Ryssdal in the Norwegian Oil Industry Association (OLF) to news agency NTB.

The areas which will Ryssdal believes should be focused on first are the continental shelf around Svalbard and Jan Mayen, the northern parts of the Barents Sea and the desputed areas between Norway and Russia. Iceland has already announced the first licensing round for explorations in the area south of Jan Mayen.

The battle for preserving or exploring the vulnerable areas of the Arctic has just started. There is disagreement both between political parties but also within political parties. The oil industry has enormous amounts of money and resources to influence the decision.

- The oil industry won with their strategy in the battle of exploring the coast of Finnmark. However, people must see that it will be impossible for Norway to reach our goal of no greenhouse gas emissions by year 2050 if the Government keeps opening new areas for oil and gas development, says Elisabeth Sether in Bellona.