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Norway now "one of hottest offshore oil markets" -- Woodmac

According to analyst firm Wood Mackenzie, the Norwegian offshore market has gained momentum. However, challenges are looming on the horizon.

Photo: Wintershall

While the global offshore market suffers from declining oil prices, the effects have been less negative for the Norwegian offshore industry. In fact, things are looking up for Norway, according to analyst firm Wood Mackenzie.

“Momentum in the Norwegian market means that the Norwegian continental shelf is leading and one of the world’s hottest offshore markets right now,” says Mhairidh Evans, senior research analyst at Wood Mackenzie.

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