The future of oil exploration lies in new technology--from massive data-processing supercomputers to 4D seismic to early-phase airborne spy technology that can pinpoint prospective reservoirs.
Profits from LNG projects will be taxed at an initial rate of 1.5% but the rate will rise to as much as 7% after companies recover the costs of building the shipping terminals.
Some investor analysts agree, and think that the coal industry is set for a comeback. That may be the case in the short-term, but the longer-term picture is much shakier.
There remains some ambiguity as to when bidding rounds would actually be opened up to international oil companies, with most predicting sometime next year.
The country’s Government Pension Fund Oljefondet, through careful investment has made every Norwegian a millionaire. Norway’s success with its Oljefondet stands in stark contrast to Britain, with whom it jointly developed the North Sea.
