Aug 16, 2004Commentary, 7/8 2004Past Imperfect
In fifty or even a hundred year’s time, what will economic historians make of the oil and gas industry in the early years of the 21st century? We in 2004 can easily look back over our recent past and note the extremely low oil prices of 1998-99. We can track the changes in those prices up to today’s record-breaking highs. But when those historians look back at 2004, what will they make of us? Will the markets’ group-think that often leans towards panic be seen as legitimate response to today’s events or as a kind of hysteria? It seems likely that some historians may consider this year as a pivotal time, a time that marks the beginning of a new era.
From the Editor: Better and BetterAug 16, 2004 Welcome to our ONS edition of Scandinavian Oil-Gas Magazine!
Yes, there are other conferences and exhibitions between now and the next issue, but few working in the North Sea oil and gas industry would claim that that they are bigger or more significant than ONS.And this year’s ONS promises to be the best ever (they always do get better and better...).
The View From the TopAug 16, 2004 Thorhild Widvey, the newly appointed Norwegian Minister of Petroleum and Energy, has hit the ground running. Fortunately for us, she found a little time in her hectic schedule to meet with us.
The View From the Top (Norwegian text)Aug 16, 2004 Thorhild Widvey, the newly appointed Norwegian Minister of Petroleum and Energy, has hit the ground running. Fortunately for us, she found a little time in her hectic schedule to meet with us.
Sunny, With Some CloudsAug 16, 2004 The future of Norsk Hydro appears bright as Executive Vice President Tore Torvund sees it. Both oil prices and production are high, the development of the giant Ormen Lange is on track and Hydro will start talks with Russian Gazprom of a possible partnership on the Shtokman field in the Barents sea. But dark clouds are forming on the horizon – unless new, large oilfields are found, the entire industry could be facing a difficult future. By F. O. Nyquist.
ONS 2004 – The Story’s the Same, But the Faces are ChangingAug 16, 2004 Offshore Northern Seas in Stavanger this August will see for the first time a targeted marketing effort to promote entry into the Norwegian Continental Shelf (NCS), as the Norwegian Petroleum Directorate (NPD) campaign to promote the Norwegian sector to new entrant E&P firms gathers pace. Building on the success of the UK Department of Trade and Industry’s efforts to attract new players to the UK Continental Shelf (UKCS), the Norwegian authorities are progressing a similar, targeted approach to attract North American firms that have recently entered the UK, such CNR, EnCana, Apache, and Petrocanada. By Derek Leith.
Gas From NorwayAug 16, 2004 Gas transport from the fields to onshore treatment plants, as well as transport of sales gas to the consumer marked in Europe was traditionally carried out by the oil companies in joint ventures. However, as the discovery of more and more gas on the Norwegian Continental Shelf (NCS) materialised, it became obvious that a consolidated network would be advantageous to all parties involved. By Erik Kvadsheim.
One Trip Natural Gas Lift Solution Brightens Picture for Marginal Oil ReservesAug 16, 2004 As the industry seeks to extend its ability to develop marginal offshore oil reserves profitably, fields requiring gas lift to generate sufficient oil production often pose a sizable challenge. Gas lift in subsea wells, using injected gas from surface, requires extensive infrastructure – the cost of which can render a marginal field uneconomic to develop. By Ian Raw.
Design and Performance – Testing of a New Solution for Subsea SeparationAug 16, 2004 Separating gas, oil, water, and sand at the seabed has great economic potential for many subsea field developments. A subsea separator can avoid or simplify costly surface platforms or floating vessels, as well as being an efficient tool to enhance hydrocarbon production. One solution of interest is the separation and re-injection of water at the seabed to avoid bringing the water up to the surface facility. A new subsea separation concept for such a system has been demonstrated through an extensive qualification programme that has included performance testing at full-scale and is now available for installation subsea. By Toine Hendriks and Rune Fantoft.
Internet: The Wired HomeAug 16, 2004 When the Web emerged in the early nineties, pundits wasted no time in starting to talk about the merging of different media – the phenomenon known as convergence. Only problem is, there was none. As is so often the case, people’s communication and entertainment habits tend to stick, and new media take their place alongside existing ones; they don’t replace them. In fact, the convergence has been slow in coming, excruciatingly so for business sectors depending on rapid change, such as the computer and telecommunications industries. By Erlend Gram Simonsen.
Online Environmental SurveillanceAug 1, 2004 Preventive measures have been taken worldwide to reduce the more than 500,000 tons of oil spilled into the marine environment every year, and the International Maritime Organization (IMO) is increasingly declaring sensitive sea areas as “Special Areas”, including the North Sea, where allowable discharges from vessels and offshore structures are reduced from 40 to 15 part per million. By Casper Kvitzau.
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