The Minister of Finance visits Money bin in the North Sea
On Tuesday, Finance Minister Siv Jensen visited the Valhall oil field in the southern part of the North Sea.
‘This is an installation that has been operating for a long time, and has produced huge revenues for Norwegian society for many years.
The aim is to keep it operative up until 2050,’ Jensen told NTB news agency.
The Valhall field was discovered in 1975, and development began a year later. The field was opened for production in 1982.
The oil from the field is exported via Ekofisk to Teesside in the UK, while gas is exported via the Norpipe system to Emden in Germany.
One billion barrels of oil
Siv Jensen said she believes it’s important to spend time in the North Sea during the election campaign.
‘This is an important industry for Norway that has undergone major challenges in recent years.
It’s important to realise that this is a vital industry for the future, an industry that will serve a lot of people, and an industry that will give great value, and contribute a lot of welfare in Norwegian society in the coming years’, said the Minister of Finance.
Warns:‘It matters to a political majority that we continue to invest in predictable framework conditions,’ said the Fremskrittsparti (FRP) leader.
Since its inception in 1982, one billion barrels of oil have been produced from the field, according to the operator, Aker BP. The goal is to produce another 500 million barrels from the field for at least 33 years into the future.
© NTB Scanpix / Norway Today
