A panel of Norwegian oil and gas experts says the costs of offshore drilling are too high and...

|By:, SA News Editor

A panel of Norwegian oil and gas experts says the costs of offshore drilling are too high and calls for easing safety rules to save up to 1T kroner ($167.5B) and allow greater volumes of oil and gas to be produced. Without action, there's a "grave danger" that vast resources may remain in the ground forever. Norway's petroleum production fell 4% in 2010 and 5% in 2011.