The Norwegian oil adventure has yielded a fantastic return for the nation. Gross revenues from this industry exceed NOK 8 000 billion – with more than half of Norway’s petroleum still to be recovered.
Based on a clear desire for oil and gas to benefit the whole community, the Norwegian oil model was constructed by far-sighted people more than 40 years ago. It has proved a success admired by other nations.
The easiest barrels have been found and produced, so that the way ahead will be demanding in terms of expertise, technology and costs.
In an interview in this issue, finance minister Sigbjørn Johnsen highlights the obligation of the present generation to manage the huge assets nature has given Norway.
The issue also includes a report from the breaker’s yard in south-west Norway for redundant offshore platforms. Some 500 fixed and floating installations are to be found on the NCS, and many of these are due to be removed in the next few years.
To download the the issue click here.
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Source: NPD, December 21, 2010;