Norway has resumed oil and gas exploration in the North Sea for the first time since 2021, inviting bids for licences in the Barents Sea, Norwegian Sea, and parts of the North Sea. Energy Minister Terje Aasland comments: ‘Oil and gas are the engine of the Norwegian economy.’ The licensing round has apparently already attracted ‘great interest’ from industry.
The decision has reignited calls in the UK to lift its ban on new North Sea drilling. Conservative shadow business secretary Andrew Griffith said the UK was ‘missing a massive economic trick,’ while Reform UK’s Richard Tice urged the government to back both offshore and onshore drilling and adopt a Norway-style sovereign wealth fund model.
Read more: A look back on 50 years in the North Sea
Industry group Offshore Energies UK warned that Britain risks greater reliance on imports without domestic production. CEO David Whitehouse exaplins: ‘Norway’s decision underlines its commitment to secure supplies for Europe alongside renewable growth. With supportive policies, we could produce half of the oil and gas needed to reach net zero by 2050 from UK waters.’
The UK government’s Department for Energy Security and Net Zero defended its ban, arguing that new fields would not lower bills, improve energy security, or align with climate targets.
