- In these areas there can be billions of barrels of oil in total. With an oil price of 300 USD in the future the values for Norway can be hundreds of billion kroner, says petroleum expert Jarand Rystad to E24.
Especially the areas between Jan Mayen and Iceland, northeast of Jan Mayen, the areas north of Svalbard and in the eastern part of the Barents Sea is promising, according to Rystad.
Norway’s continental shelf in the far north has been extended by an area of 235,000 square kilometers following a recommendation by the U.N Commission on the Limits of the Continental Shelf presented earlier this week, as reported by BarentsObserver.com
