Norwegian Companies Send Positive Messages After Grim Reports

Kvaerner unveiled its intention to explore new strategic opportunities and new industrial partnerships, while Statoil launched production at Fram H-North and Svalin C. 

‘Statoil’s fast-track development projects are increasing the company’s and partners’ oil and gas production through a combination of standardised subsea development solutions and utilisation of infrastructure in a manner which helps extend the lifetime of existing fields,’ the company said on Wednesday. 

Norwegian companies have to cope with grim prospect on the NCS. According to financial services group DNB, oil and gas investments in Norway are expected to register a year-on-year 18.5% fall in 2015. 

The difficulties have been confirmed on the other side of the pond, with Bermuda-based Seadrill stating it expects the rig market to remain soft this year to get worse in 2015.  

NORWEGIAN RESPONSE

As said, Statoil’s response also hinges on developing standardised technical solutions.

"We have achieved a lot with regard to costs, development time and HSE. These are good experiences we will benefit from in Statoil’s efforts to increase competitiveness and a long-term sustainable development of the industry. Fram H-North and Svalin C are good, positive representatives of what we want to achieve through the fast-track development concept,” Statoil’s Ivar Aasheim commented in a note released on Wednesday. 

In August, Statoil awarded Kvaerner a concept study for efficient platforms.