Oil production drops on Norwegian Shelf in 2005

The production of oil on the Norwegian Shelf dropped in 2005, to a new record low of an average daily production of 2,560,000 barrels, according to figures from the Oil Directorate.
The development throughout 2005 confirms the falling tendency since the year 2000. In 2001 the average daily production was 3.2 mm barrels. In 2003 it had dropped to 2.875 mm and in 2005 it was around 2.5 mm bpd.

The high price for oil, however, has kept the earnings higher than ever. The main reason for the reduced production is that exploration for new wells has been reduced on the Norwegian Shelf.
This is mainly due to pressure from environmental organizations which want to protect oil-rich areas off the Norwegian coast where they fear that the fish stock and the environment will suffer from possible oil spills.