Minister: Norway Oil Projects Face Delays over Costs



Reuters

OSLO, Oct 21 (Reuters) – Several Norwegian oil and gas projects with development plans due next year will be delayed because of high costs and technological challenges, while several will also go ahead, oil minister Tord Lien told reporters on Tuesday.

The projects that will be delayed will eventually get developed over the long term, but the oil industry needs to get a grip on costs and the solution must come from the private sector, not the government, Lien added.

(Reporting by Balazs Koranyi; Editing by Jussi Rosendahl)



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