Shell cuts exploration ambitions in Norway, to focus on natural gas
By Reuters Staff: 9 February 2021
OSLO, Feb 9 (Reuters) – Royal Dutch Shell will narrow its exploration scope in Norway to focus on natural gas production and possibly offshore wind in future, it told the Norwegian oil and energy ministry.
Shell said in October it planned to reduce its oil and gas operations to nine basins around the world as part of its strategy to reduce the carbon intensity of its operations. It is expected to announce details of its new strategy on Thursday.
“In 2020, we have made a choice to focus exploration activities in Norway going forward to areas around existing discoveries and infrastructure,” it said in a letter on the ministry’s website, published as part of a public consultation for a government report on energy policy.
“That means that we now primarily position ourselves as a gas company on the Norwegian shelf … This is a business that in the coming decades will create significant value for us as a company and Norway as a nation,” it added.
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