Norway’s Oil Industry Faces Cost Jump as Finds Lure Explorers
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Total SA, Royal Dutch Shell Plc, Dong Energy A/S and other explorers face rising costs in Norway as the biggest crude finds in almost 40 years rekindle interest in exploring off the Nordic country’s shores.
The discoveries are driving demand, pushing up prices for equipment and services and potentially jacking up commitments for licenses, Soeren Gath Hansen, chief for exploration and production at Dong, a Danish oil explorer, said in an Aug. 29 interview in Stavanger, Norway.