The Energy Networking Event: International Perspective on the Norwegian continental shelf
TechnipFMC, the French Norwegian Chamber of Commerce (CCFN) and the Norwegian-Russian Chamber of Commerce (NRCC) organized in Oslo the "Energy Networking Event" in Oslo, on Tuesday the 16th of May, on the topic “International perspective on the Norwegian Continental Shelf”.
The first speaker was Mr. Pierre Bang, Managing Director of Total E&P Norge. Following a brief presentation of his company, of which the core business focuses on the oil & gas sector, he explained that Total went through an important review of its strategy concluding that the company now has to take an active part in providing solutions to Climate change. It is one of the first companies to have integrated this issue in its business plan. Today, 5% of the company’s capital is employed for renewable energies, Total having acquired such companies as Sunpower, producing solar panels, or Saft, an energy storage company. Total has decided to divest from coal production, and increase the share of gas production up to 60%, when Total’s production used to be closer to half oil – half gas.
They are eager to develop their business on low carbon, proving it with the recent signature of a Memorandum of Understanding (MoU) along with Gassnova, Statoil and Shell to participate in the Technology Center Mongstad’s CCS development project. Total will invest 10% of its R&D on CCS!
His presentation was followed by Mr. Halfdan Millang, CEO of Rosneft Nordic Oil. Currently producing 5 million oil barrels in Norway, the Russian company has many reasons to be present on the Norwegian market. They consider it as a tier 1 region: it is politically stable, has a steady fiscal regime, and is technologically well developed. The company considers North Sea Barents as probably one of the most attractive offshore regions in the world, being a relatively low risk investment area, and a recent study from Rystad showed relatively low exploration expenditure and competitive development costs.
The last speaker was Ms. Ann Christin Andersen, Managing Director Norway for TechnipFMC. With their forty-year long, approximately 3 100 employees in the country, and working on eight different sites, TechnipFMC is strong in Norway. The Norwegian market has strong clusters, capable and demanding customers, academia, and a lot of competency in the subsea industry. As co-creation is incentivized and there is a high level of trust, it is a market full of opportunities to evolve in. Moreover, investments are picking up after three years of deflation.
The presentation was followed by a panel discussion where the three speakers expressed how their companies experienced the lately difficult times.
The CCFN would like to thank all the participants and partners for this successful event.
We look forward to working again with TechnipFMC and NRCC, and hope to see you as numerous at our next event.
