Norway Walks Away from Massive Quantity of Oil The Lofoten Islands, located deep in the Norwegian Arctic Circle, are home to unique ecosystems, dramatic mountains, and pristine nature.ย Rich in biodiversity, the islands also appear to be rich in oil sediments. With such valuable resources, Lofoten is highly sought after by the country’s oil industry. Estimates suggest that 1 billion to 3 billion barrels of oil could be […] Industry News Emily Crofton | December 20, 2019 3 Comments