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Unformatted text preview: licensees in production licence 395 are: StatoilHydro ASA
(operator, 50%), BG Norge AS (30%), Petoro AS (20%).33
It is estimated that the areas surrounding the Lofoten
and Vesterålen archipelago in Northern Norway contain oil
and gas resources with a value between EUR 10 and 15
billion.34 However, the Norwegian fishing industry will fight
hard to keep the petroleum industry away from the area. The
areas surrounding the Lofoten and Vesterålen archipelago
are preserved from any petroleum activity, but the petroleum
industry would like this to be changed. Their demand will
probably not be helped by the recently released estimates of
the undeveloped values, which can be found in these areas.
The consulting firm Econ estimates the reserves in the area
to be around two billion barrels of oil and gas, with a total
value of EUR 12-15 billion. The local coast fishing
association says that this area should be the last opened up
for petroleum development. Their opinion is that Norway is
extremely wealthy and invests its wealth in all kinds of
useless projects around the world, instead of conserving a
renewable resource li...
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This document was uploaded on 03/30/2014.
- Summer '14