Today presented Director Bente Nyland accounts for the Norwegian Shelf in 2014 and projections for the future.
In a time when oil prices are low and costs high believes the Director that companies must remember that this is a long term business.
Barents Sea waters the Director believes it is most debate about now.
– The Barents Sea has great possibilities. Meanwhile, there are challenges that must be addressed. There are long distances that enables logistics and emergency preparedness must be coordinated in order to reduce costs, she said.
COOPERATION: Director Bente Nyland believes that one must find common solutions to the north in order to recover in the Barents Sea. No company can take costs alone to expand the a single field.
Maner cooperation
Nyland believes cooperation is needed when it comes to development.
– why it’s important to find coordinated solutions where discoveries are made. In an area that the Barents Sea with little infrastructure is important flexible and robust development solutions, she says.
THE WAIT: How so Statoil separately receiving terminal on Veidnes Nordkapp. The decision is now postponed.
Warns current thinking
Johan Castberg is the next area expected to be constructed in the Barents Sea. But this has Statoil as operator is advised to postpone the investment decision for.
Yesterday came news that companies Statoil and Lundin have concluded that it is probably too little oil to a common solution can be profitable offshore.
It is 50 years since the first licensing round was announced on the Norwegian shelf. And the mantra of the Director was precisely this – that industry must remember that they are a long-term industry.
– In a time of low oil prices, high costs and capital constraints, then there is a risk that companies want to minimize risks and make choices that maximize the short and medium term. We are concerned they still think long term and select solutions that contribute to future value creation on the Norwegian shelf, said Nyland.
Is stomach
Economist Jørund Greibrokk says to NRK that people in north must have ice in my stomach.
– There is an extreme decrease in prices of petroleum products, but the last three years this has been on an extremely high level. So now we’re back again, as expected. When prices adjust back, so also adjusts investments, he says.
Greibrokk explains that Statoil has many projects and want to implement those most profitable – it’s their job.
– When the price goes from $ 130 a barrel to $ 50 a barrel, so you put aside the marginal projects, and some of the projects in the Barents Sea is more marginal than others on this planet, he said.
PRICE: When the projects in the Barents Sea is realized depends on the cost and price of oil. Photo: Erik Thornberg / Scanpix
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