In June 2012, Norway’s Ministry of Petroleum and Energy announced its most recent licensing round for oil and gas exploration blocks. Of the 86 blocks on offer, 72 were in the Barents Sea, north of the Arctic Circle. The concentration of exploration blocks in the Norwegian Arctic underscores the extent to which the country views the Arctic as critical to its future as a leading energy provider.
On November 9, the Energy Security Initiative at Brookings hosted Ola Borten Moe, Norway’s minister for Petroleum and Energy for a discussion of Norway’s investment in Arctic oil and gas exploration and production. He also addressed Norway’s perspective on the importance of the Arctic as the next global energy frontier.
Vice President Martin Indyk, director of Foreign Policy at Brookings, provided introductory remarks. Senior Fellow Charles Ebinger, director of the Energy Security Initiative, moderated a discussion with Minister Borten Moe.