Norway is placing its bets firmly on oil and gas, even as green energy ambitions simmer in the background. As Europe scrambles to replace Russian supplies, Oslo insists that its petroleum sector remains indispensable. Record investments are expected to peak this year before tapering off, but the government is pushing ahead with new licensing rounds into frontier areas of the Barents and Norwegian Seas to sustain momentum. Energy Minister Terje Aasland has signalled that the Norwegian continental shelf will continue to deliver jobs, state revenue and stability for Europe, positioning the country as the reliable supplier it has become.  Output continues to exceed expectations. In July, oil production surpassed forecasts by nearly 4 per cent, driven by the ramp‑up of a major new oilfield in the Barents Sea. Equally, gas production edged above estimates, despite seasonal maintenance work, confirming Norway’s status as Europe’s leading gas exporter.  State‑owned operators and global firms are moving quickly. Equinor, along with Aker BP and Shell, are ploughing capital into both exploration and existing field enhancements. Equinor’s latest projects, including expansions in Johan Sverdrup and Troll C, are being delivered via subsea infrastructure that taps existing reserves. Development plans for Fram Sør and Troll boost prospects of industrious output through to decade’s end. Norwegian authorities are balancing continuity with caution. A national petroleum regulator forecast a peak in output in 2025 and flagged investment risks tied to volatile prices, warning that production could decline steeply without further exploration. The survey highlights the need for fresh ventures in frontier zones like the Barents Sea to avoid a fast‑approaching downturn.  The backdrop to all this is the federal election campaign. Energy policy sits centre‑stage as parties vie for influence. The right‑wing Progress Party calls for expanded production for centuries ahead. Labour, Socialist Left and Greens offer competing visions, from cautious stewardship to outright rejection of new exploration. Whether the next parliament is “much greener than ever before” remains to be seen.  Behind the continued race for oil and gas lies the bedrock of Norway’s economic model. Revenues from petroleum support the world’s largest sovereign wealth fund and contribute significantly to GDP. The government’s deliberate strategy blends high output today with financial safeguards for tomorrow. It is a political pact: the country keeps drilling, and the nation keeps thriving. ...