Norwegian industrial group Norsk Hydro said that it is keen to resume exploring for oil and gas in the Arctic Barents Sea, possibly this autumn, even though chances of discoveries are low.

The Norwegian government said in December that it will reopen the Barents to year-round oil and gas activity after a two-year ban, despite fierce protests by environmental groups.
“We are interested in exploring for oil and gas in the Barents Sea even though there is relatively low probability of discoveries,” Norsk Hydro said in a statement.
Norsk Hydro is operator of the Obelix prospect in seismic area C of the Norwegian sector of the Barents Sea, and the company said it hoped it could begin exploration drilling in the area this autumn. It did not give a more precise schedule.
Obelix is one of three exploration licences on Norway’s side of the Barents. The other two are operated by Norwegian Statoil and Italy’s Agip, and all three groups are preparing to drill new wells in those prospects in 2004-05.
“We are working on a drilling campaign in the north where we plan to be involved in more drilling than just on Obelix,” Senior Vice President Bengt Lie Hansen told Reuters.
He added that Hydro is primarily aiming to find oil.
“We are working on several rig options (and) we see a drilling campaign involving four wells from autumn of this year to winter of 2005,” he said.