BG starts survey in Norwegian Sea
U.K.’s third largest producer of natural gas, BG Group, has started a seismic survey of its Norwegian Sea license as it expands beyond the North Sea into the Arctic.
In April, BG got 40 percent equity and operatorship of license 522 in the Norwegian Sea and of license 534 in the Barents Sea, Bloomberg reports. Half of the company’s 20 licenses in Norway are outside the North Sea.
-The Barents Sea provides a long-term growth opportunity in a frontier area, a spokesperson from BG said. - Mid-Norway has the potential to create a new hub exporting gas to the U.K. and Europe.
As BarentsObserver reported, BG and other oil and gas producers are moving into Arctic waters as output from the North Sea dwindles.
