Norway eyes “end of oil” in eight years

Norwegian leaders at the top of a bloated bureaucracy — much of it devoted to controlling, monitoring and planning oil production — are under fire after a new report suggests oil-rich Norway has just eight more years worth of oil.

The advent of “peak oil” in Norway appears to have caught the bureaucracy off guard, although successive governments have been more and more vocal about boosting production.

That was a mistake, says oil researcher Helge Ryggvik.

“With today’s production tempo, we have oil for eight more years if we don’t find more,” Ryggvik says.

“(Norway stands) at the precipice,” he told newspaper Dagbladet.

Click here to read the entire article written by William Stoichevski for Scandinavian Oil & Gas Magazine

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