11/12-2003 (Issue SOGM)

Dec 15, 2003
Commentary, 11/12, 2003

The Waiting Game
With the release of the Norwegian Parliament White Paper number 38 (2001-2002) came a provocative chart showing two possible scenarios for the next 50 years of oil and gas production on the Norwegian Continental Shelf (NCS). The “gradual disintegration scenario” shows a plunging line from a little over 250 million Sm3 oe down to under 50 by 2030 and to approximately 10 by 2050. In opposition, the “long-term development scenario” is more positive, with almost 150 million Sm3 oe 50 years on. It’s a dramatic “either – or” look into the future, and it begs the question as to which we prefer. The chart is meant to inspire, but it is troubling. Why do we need to look at NCS activities this way?

From the Editor: Tis the Season ...
Dec 15, 2003
It’s that time of year again. The time when we wonder where the year has gone (already!), and we look forward to the fresh, new year with high expectations and perhaps a few resolutions. I’ve always enjoyed that backwards-forwards feeling, and in this issue I think we’ve made the most of it.

Is the Future of the North Sea in the Hands of the Independents?
Dec 15, 2003
In recent years the North Sea has undergone significant change, with a diverse mix of contenders being drawn into the arena. With tighter profit margins and lower returns, the majors and supermajors have begun to focus attention on alternative provinces. Any significant investment has come from a range of independent players. The emergence of these companies in the late nineties was initially facilitated by mergers and acquisitions, sparking a period of corporate consolidation and portfolio rationalisation by the newly formed oil and gas giants. A number of government initiatives have also been implemented to assist this new wave of interest. By Rhydian Williams and Robyn Fowler.

Also:

Deloitte

Future Oil Supply Prospects From OPEC Member Countries-Spotlight

Future Oil Supply Prospects From OPEC Member Countries
Dec 15, 2003
The future oil supply picture for the coming years from OPEC Member Countries in the face of rising global energy demand and geopolitics is a complex one. One of the major supply-side issues with which OPEC has to deal is a rapid rise in non-OPEC oil production and the rehabilitation of Iraq’s oil industry and the expansion of its exports. Another main issue on the supply side is one of resources. All estimates on the question of resources indicate they are more than adequate. By HE Dr. Alvaro Silva-Calderón, Secretary General of OPEC.

Internet: Get Rich Quick
Dec 15, 2003
Make money fa$t! Enlarge your penis now! Buy Viagra! Lose weight now! Ever get one of these in your mailbox? Annoying marketing messages for sexual-performance drugs, porn, debt reduction and weight loss are filling up mailboxes around the world, and the problem is growing fast. Nobody is unaffected by the growing amount of spam. By Erlend Gram Simonsen.