Commentary, 1/2 2005

How Mature is Mature?
It’s a new year, with new hopes and aspirations. This year has begun with the promise of increased in activity on the Norwegian Continental Shelf, including more exploration in newly opened areas as well as in more mature areas where new blocks have just recently been awarded. For many, last year’s activity proved disappointing. Looking at the number of exploratory wells drilled, there’s no doubt that 2004 was a slow year in that arena. But it can be said that 2004 made a promise to the future, and this year will be the beginning of that promise’s fulfilment.