Three recent oil discoveries have revived the interest in the Barents Sea. Altogether the Skrugard, Havis and Norvarg discoveries may have recoverable reserves close to one billion barrels of oil equivalents.

”This is a new petroleum province where exploration has just started. In my opinion, there is a good possibility that the recent Statoil discoveries and the area in their immediate vicinity may contain almost two billion barrels of recoverable oil,” says Snorre Olaussen, professor in Arctic geology at the University in Svalbard (UNIS), Longyearbyen, and with nine years as explorationist in Eni, before turning an academician, confirming that the Barents Sea will be a Hot Spot in many years to come. 

The government will now give the oil companies additional possibilities. In June, the 22^nd licensing round will be announced. The oil companies have indicated their preferences, and the government, assisted by the Norwegian Petroleum Directorate, will make a decision about what blocks to include.

The seminar will focus on understanding the petroleum system of the southwest Barents Sea.