Trump administration move could unlock 65 billion bbls of oil equivalent
On 4 January, the Trump administration proposed to make nearly all offshore areas in the United States available for oil and gas exploration drilling.
On 4 January, the Trump administration proposed to make nearly all offshore areas in the United States available for oil and gas exploration drilling.
Members of the scheme include Peterson, Maersk Oil North Sea UK Limited, Petrofac and Dana Petroleum Ltd.
The business intelligence group’s report reveals a 10 yr low in oil discoveries in Norway and anticipates a shift in focus in the UK to gas in 2018.
Norway spent US$18 billion in 2017 on offshore developments, with the US and Mozambique also making significant contributions.