Press Release

No.: 32/99
Date: 10.05.99

NOK 100 million to project related technology development in the oil and gas sector

The Government proposes to allocate 100 million kroner to a programme in support of project related technology in the oil sector. The purpose of the proposal is to secure continued profitable development of the resources on the Norwegian continental shelf and to contribute to sustained competitiveness in Norwegian industry during a period of lower activity level.

In addition to expectations of a more moderate activity level in the future, parts of the Norwegian continental shelf can be characterised as a mature petroleum province. This means that the industry needs to adapt in relation to changing capacity requirements in parts of the sector as well as to respond to new technological needs in connection with future developments on the Norwegian continental shelf.

The industry has underlined that technology development will be the most important contributive factor to a further reduction in costs and consequently to generate new profitable activities. The authorities' support to project related technology development is particularly important in the present situation where research and development activities due to limited earnings have been subject to cuts in the oil industry as well as among contractors.

Public support to project related technology development will be channelled through the Norwegian Research Council. The Ministry of Petroleum and Energy will in conjunction with the Research Council appoint a steering group with representatives from oil companies, the supply industry, research institutions and the Petroleum Directorate. The Government assumes that industry will cover a major part of the financing of the programme.

Contact:
Sissel Edvardsen, +47 22 24 61 09