UK Energy Minister Helen Liddell and Olav Akselsen, Norwegian Minister of Petroleum and Energy, heralded a bright future for North Sea oil and gas exploration.
Both ministers spoke at North Sea Beyond 2000, a two-day conference in London promoting the North Sea as a center of excellence with focus on keeping both countries' oil and gas industries competitive in offshore development.
Liddell said the UK's oil and gas industries were entering a new phase in the North Sea, one with considerable technological challenges. She said the UK and Norway shares goals -- both strive to maximize the economic return from the North Sea, attract investment and sustain production to satisfy market requirements.
Liddell also said the conference marked the continuing cooperation between the UK and Norwegian governments on energy policy and the good relations forged by the countries' oil and gas industries.
Akselsen said the experience gained by the British and Norwegian industry over the past 30 years, in finding solutions for a demanding North Sea market, has contributed to the development of internationally competitive technology.
Akselsen said the primary objective of the Norwegian authorities is to keep the country's continental shelf competitive compared to other petroleum provinces. This means that Norway must be able to produce reserves cost efficiently and provide a reasonable return on investment for the industry, Akselsen said.
© 2000 Mena Report (www.menareport.com)
