Shell Offshore Inc. (Shell) announced during the Oslo Energy Forum of a expectation to focus upon expansion efforts within the North Sea (Nord Sjoen) and the Norwegian Sea (Norskehavet).
While other ‘oil giants’ have sounded a retreat from northern waters, Shell intends to doubled down and expand operations within both northern seas.
At forum, Shell CEO Ben van Beurden stated ‘We’re particularly focused on the North Sea and the Norwegian Sea. We feel that these waters hold vast exploration and drilling potential. We’re (operating profitably) at $53 USD barrel market value North Sea oil that formerly held a market price of $99.It’s a huge turnaround.’
Beurden spoke during the Oslo Energy Forum, held each year in Oslo’s Scandic Holmenkollen Park. The forum gathers approx 200 energy representatives ‘By Invitation Only’ under spirit of collaborative cooperation.
Statoil’s CEO Eldar Sætre expressed delight to NRK of Ben van Beurden’s clear signals of Shell’s continue efforts within Norwegian waters; ‘Shell’s a major player with deep expertise is among Statoil’s important partners.’
CEO Beurden spoke during the Oslo Energy Forum at Oslo’s historic Holmenkollen hotel. The forum gathers aprox 200 energy representatives ‘By Invitation Only’ under spirit of collaborative cooperation.
Each February, Oslo Energy Forum invites key decision makers within the global energy industry to a forum dialogue focused upon trends and developments im-pacting the energy industry.
Among those in attendance were Fredrik Reinfeldt, Former Swedish Prime Minister, Sir Nigel Sheinwald, Former British Ambassador, Jörg Wuttke, Chief Representative, BASF China, and Sir David King, Government of UK.
The 4 day forum was held 13 – 16 Feb., 2018
© NTB Scanpix / #Norway Today