Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Statoil gives bleak assessment on NCS

|
|
 
  
Published: Nov. 20, 2009 at 10:13 AM
Advertisement

STAVANGER, Norway, Nov. 20 (UPI) -- Developments in the Norwegian continental shelf will focus on maintenance as the number of independent projects decline, officials at Statoil said.

Stale Tungesvik, senior vice president for reserves and business development in Statoil, told a delegation of operators in the Norwegian continental shelf that his company was looking to smaller offshore fields that could be more challenging to develop.

"The 2009 investments have been (at a) record high," he said. "Statoil's goal is to sustain production on the NCS at the current level in the years ahead."

He said the goal for the Norwegian giant was to find sound solutions for its partners in the offshore environment.

"In turbulent times this requires a lot of us as the operator, and finding solutions may also take longer than our surroundings may expect," he said.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
The making of the Oscars The Chicago Auto Show The Tibetan Moniam Festival in China
Additional Energy Resources Stories
1 of 21
President Obama Signs Smuggling Prevention Act at White House
View Caption
fark
If we timewarped back by 2000 years, what job would you most qualified to do? No, you can't bring...
BAD: getting caught in a landslide while hiking. WORSE: getting struck by lightning while trying...
Weepy eyes, hot chix, Jersey Shore Ronnie and a guy with mini fishing reels stuck in his beard....
French roadbuilders find 21 German WWI soldiers...and 1 goat
Photoshop this crazy old coot in the cold
Anonymous ends the week by bringing down the CIA webpage. *golf clap*