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(Ecofin Agency) – On Tuesday, the Bank of Norway announced that the National Sovereign Wealth Fund has decided to reinstate the oil companies Cairn Energy and Kosmos Energy two years after disengaging from them because of their exploration activities in Western Sahara.
At the time, the fund that is the largest in the world with about $ 1 trillion, had evoked "Risks of particularly serious violation of fundamental ethical standards".
Both companies have, in fact, put an end to their disputed activities in this area.
According to'EconomistKosmos Energy ceased operations in Boujdour last February after unsuccessful searches. Cairn had started operations off the Canaries before prospecting in West Africa, particularly in Senegal.
The fund can now continue to invest in both companies.
Western Sahara is an almost desert territory that extends Morocco to the south, has been the object since 1975 of a conflict of sovereignty that pits Morocco against the Polisario Front, an independence movement supported by Algeria.
Olivier de Souza
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