Norway Should Drill for More Oil as Peak Looms, Directorate Says.

According to a report by Norway's offshore directorate, oil and gas companies operating off the Norwegian continental shelf should increase exploration to counter the natural decline in hydrocarbon resources after 2025. The report states that production will peak in 2025 and the rate of decline will depend on companies' ability to tap into new resources using new technologies and explore less familiar regions like the Barents Sea. The difference in net cash flow to Norway between high and low production scenarios is estimated to be about $1.4 trillion. The report also highlights the need for companies to invest in measures to reduce emissions, such as utilizing clean hydro and wind power or adopting carbon capture and storage technologies. [Extracted from the article]