Norway announces the discovery of a gas field may be the largest in ten years

The Norwegian Oil Company (DNO) announced today the discovery of natural gas in Norwegian waters in the North Sea, which may be the largest in the country in ten years.

The company said, in a statement, that “the gas and condensate field located at the Carmen site will contain between 120 and 230 million barrels of oil equivalent.”

It indicated that if the median limit of this estimated range of 175 million barrels is reached, this will be the largest discovery on the Norwegian continental shelf since 2013.

Norway, whose main resource was hydrocarbon production, became last year the largest supplier of natural gas in Europe, following the outbreak of the war in Ukraine.

Last month, the Norwegian government gave its approval to 19 projects in the fields of oil and gas, with a total value of more than 200 billion crowns (17 billion euros).

Norway supplies gas to Europe mainly through a network of pipelines under the sea, and it is a major source of oil, which is transported in part through pipes, and a supplier of electricity through long cables linking it to the continent.

Source: National Iraqi News Agency