The sudden drop in the oil price mid-2014, along with increased cost levels resulted in decreased activity on the Norwegian continental shelf. As a result, the increased access to the major resource areas of Northern Norway has become increasingly important with global contractors following the oil and gas industry and establishing offices in the north.
Last year’s 23rd licensing round on the Norwegian continental shelf defined the future oil & gas development in the region with thirteen companies offered ten production licences. All ten production licences are located in the Barents Sea. For the first time since 1994, new exploration acreage has been made available to the industry in the south eastern Barents Sea, with three production licences awarded in this area.
Attendees will hear from Bjorn Storvik, partner of Storvik & Co AS, who will provide an insight into the cross-sector opportunities in this frontier region, Francis Kiernan, Managing Director, AB Consult International Holdings Energy Services Ltd who will share his experience of the High North and Sidsel Ostad Halvorsen, President, Norwegian-British Chamber of Commerce who will discuss Norwegian business culture.
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