Energy
New Arctic Oil Field Nears Production as Giant Ship Set to Sail
- Johan Castberg project in Norway to start later this year
- Country is pushing Arctic drilling to maintain energy exports
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The vessel that will tap Norway’s newest oil field is now undergoing final checks before setting sail for the Barents Sea, the latest stage of the country’s push to extract more resources from the Arctic.
The startup of the the Johan Castberg development later this year “opens up a new oil province in the Barents Sea, and this field can become a hub for new discoveries,” Equinor ASA Chief Executive Officer Anders Opedal said, speaking to dockyard workers on Tuesday at the coastal village of Stord, Norway. Once the infrastructure is in place, it will be easier to connect additional oil finds to the floating production, storage and offloading vessel, he said.