Oil price fall threatens Norway development

The continuing slump in oil prices has cast doubts on the likelihood of near-term development of some of Norway's portfolio of discoveries. Wood Mackenzie Consultants Ltd., Edinburgh, notes that several current Norwegian developments, including Njord, Åsgard, Varg, and Visund have been hit by substantial cost overruns and construction delays. "In the current low oil price environment," said the analyst, "continued delays and cost overruns must raise questions as to the economic