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Norway will continue to explore for oil and gas in the next four years, with most new drilling permits to come in mature areas of the sea, the incoming centre-left government said on Wednesday. A minority coalition of the Labour Party and the rural Centre Party will take power on Thursday after defeating the Conservative-led .
By Victoria Klesty HURDAL, Norway (Reuters) - Norway will continue to explore for oil and gas in the next four years, with most new drilling permits to come in mature areas of the sea, the incoming centre-left government said on Wednesday. A minority coalition of the Labour Party and the rural Centre Party will take power on Thursday after defeating the Conservative-led government in last month s election. The Norwegian petroleum industry will be developed, not dismantled, the two parties said in a joint policy document, adding that it will maintain the existing system of handing out exploration licences. While climate change was a major issue debated during the campaign for parliament, Labour has said it wants to ensure any transition away from oil and gas, and the jobs it creates, towards green energy is a gradual one. Norway is western Europe s largest oil and gas producer, pumping around four million barrels of oil equivalent per day and deriving half its export revenues from hydro
HURDAL, Norway (Reuters) - Norway will continue to explore for oil and gas in the next four years, with most new drilling permits to come in mature areas of the sea, the incoming centre-left government said on Wednesday.