[Arnt]

They're wrong.

A couple of years ago the last of the exploration rigs in Norway left Norwegian waters. Because nothing that could be drilled (and hasn't already) can compete on price with solar etc.

Lots of people think someone should do this or that. They don't invest their own money though, they just think someone else should do, etc.

[alvah]

How did 40 wells get drilled in the Norwegian shelf last year, and 42 the year before? You can't just make things up.

[myrmidon]

This appears to directly contradict you, with exploration activity increasing in 2025 (compared to 2024) to 49 wells:

https://www.norskpetroleum.no/en/exploration/exploration-act...

[Arnt]

You're right. There must be something more to it.

I notice that all the recent finds on sodir.no are close to existing fields, like 5km, or even in existing fields. My friend who told me this works in strange places, far from existing infrastructure. I assume there are different kinds of equipment, and he was talking about his kind, and I understood it to be more general.

[roryirvine]

If it's anything like the situation in the UK's part of the North Sea then it'll be development of new wells in existing fields rather than entirely new exploration.

The majors have effectively abandoned new drilling, leaving a bunch of smaller or independent players - but even they are mostly doing limited appraisal & development operations rather than exploration in the traditional sense.

If the Iran situation drags on for more than a year then there'll likely be a temporary increase in activity, but the declining trend will almost certainly continue in the longer term even without further regulatory intervention.