Big oil's exit leaves Norway tending to its own petroleum future

Oslo

NORWAY is realising it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world's richest.

The most recent blow came when only 11 companies applied for new blocks in the Arctic Barents Sea, touted as the country's most promising area for exploration. Chevron Corp.and ConocoPhillips were absent after bidding the last time, while Exxon Mobil Corp and Total SA remained out of the race. Of the five super-majors, only Royal Dutch Shell Plc applied.

"It's a warning and a cause for reflection," said Stale Kyllingstad, chief executive officer of IKM Gruppen AS, one of the biggest suppliers to Norway's oil industry.

"The Norwegian shelf isn't as popular anymore. It's a c…