Norway to Outline Future Oil and Gas Strategy in New Policy Document

Norway's government has announced its intention to present a comprehensive policy document to parliament next year, outlining a strategic framework for the future of its vital oil and gas industry. Prime Minister Jonas Gahr Stoere jonas gahr stoereemphasized that the industry should be developed rather than phased out, even as official forecasts predict a decline in production from 4.1 million barrels of oil equivalent per day in 2025 to 3.5 million boed by 2030 due to the depletion of major offshore fields.