Reuters: Low oil prices threaten Norway's Arctic, UK's mature fields

Big oil and gas finds in waters along Europe's northern edge may remain undeveloped now that oil prices have dropped, keeping potential supply of over a billion barrels of oil equivalent out of the market for the foreseeable future.

Discoveries in Arctic Norway could stay dormant, while mature British fields could face early closure and frontier exploration in areas such as Greenland could be called off as oil companies cut capital spending by up to a fifth.

Projects such as Statoil's $15.5 billion Johan Castberg in the Barents Sea and smaller finds by Shell, OMV and others were once expected to open new oil provinces.
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