"Lack of Reason" or "Key Decision"? Norway to Consider Oil Extraction in the Arctic
Norwegian company Equinor wants to continue work on the Wisting field in the Barents Sea. The project was postponed in 2022 for economic reasons. Now, the company has submitted a proposal for an environmental impact assessment program for consultation.
In the photo: one of Equinor's installations located in the Barents Sea.
Fot. Ole Jørgen Bratland, materiały prasowe Equinor
Wisting is set to be the northernmost oil field in Norway's history. Equinor states that the project could bring significant revenue to the state if it goes ahead. The final investment decision is expected by the end of 2027. The consultation period has been set for 16 weeks.
Controversial project returns. No decision yet
Equinor reports that significant changes have been made since the project was postponed in 2022. Trond Bokn, the company's project development director, notes, however, that there is still a wide range of work ahead. Only after this will it be possible to assess the grounds for an investment decision. The final decision has not yet been made.
The company analyzed powering the field with energy from land. Bokn stated that this option was rejected as it was considered technically difficult and costly. Equinor wants to continue working on a solution based on an energy-efficient gas turbine. This is to be the direction for energy production at the field.
The company analyzed powering the field with energy from land. Bokn stated that this option was rejected as it was considered technically difficult and costly. Equinor wants to continue working on a solution based on an energy-efficient gas turbine. This is to be the direction for energy production at the field.
In the photo: one of the Norwegian sections of the Barents Sea.Photo: Richard Mortel from Riyadh, Saudi Arabia, CC BY 2.0, via Wikimedia Commons
Norwegian politicians react. The dispute concerns the use of the Arctic
The Progress Party (Frp) calls Wisting one of the most important projects on the Norwegian shelf. Kristoffer Sivertsen from Frp said that the decision to abandon electrification is reasonable. Maren Grøthe from the Centre Party (Sp) assessed that the field could support oil production and supplier activity. The Confederation of Norwegian Enterprise (NHO) points to the importance of the project for northern Norway, energy security, and prosperity in Europe.
The Green Party (MDG) has opposed the plans. Frøya Skjold Sjursæther described Wisting as a "climate bomb in the Arctic." The Socialist Left Party (SV) also criticizes the project, pointing to the context of the heatwave in Europe. The Green Youth called the decision to return to the plans "beyond all reason."
The Green Party (MDG) has opposed the plans. Frøya Skjold Sjursæther described Wisting as a "climate bomb in the Arctic." The Socialist Left Party (SV) also criticizes the project, pointing to the context of the heatwave in Europe. The Green Youth called the decision to return to the plans "beyond all reason."
Resource extraction in the Arctic. Will the government change its mind?
In 2022, Equinor postponed Wisting because the project was not considered profitable enough. At the time, then Minister of Petroleum and Energy Terje Aasland said he understood the need to reduce costs. Today, as Minister of Energy, he remains a supporter of developing the field.
Norway is also holding talks with the European Union (EU) regarding Arctic policy. The EU is working on an approach that assumes a temporary halt to oil and gas extraction in the Arctic. The updated version of the Arctic plan is expected to be ready in September.
Norway is also holding talks with the European Union (EU) regarding Arctic policy. The EU is working on an approach that assumes a temporary halt to oil and gas extraction in the Arctic. The updated version of the Arctic plan is expected to be ready in September.
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