No drama from Norway
The 2023 National Budget in Norway was finally agreed upon today following several weeks of negotiations. The Labour Party in its minority coalition government conceded to the Socialist Left Party on postponing the 26th Norwegian licensing round for frontier exploration blocks to 2025. We highlight that most sales volumes for seismic companies on the NCS are related to the APA awards in mature areas, which have been unaffected during the negotiations. Accordingly, while we view this as a minor negative signal for the Norwegian oil and gas industry in general, the impact on our seismic coverage should be negligible.Petroleum Geo-Services is engaged in providing geophysical services and oil and gas production services. As of Dec. 31, 2001, Co. operated six Ramform design vessels in its marine seismic data acquisition operations.
TGS Nopec Geophysical provides geoscience data to oil and gas exploration and production companies worldwide. In addition to global geophysical and geological data libraries that include seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, Co. also provides advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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