Petroleum Minister: 'It is never dull working here'

Petroleum Minister: ‘It is never dull working here’ / News / The Foreigner

Petroleum Minister: ‘It is never dull working here’. Norway’s Petroleum and Energy Minister Ola Borten Moe is a forward-looking man with considerable resources to manage. In a recent interview with The Foreigner, he says, “I don’t think I’ll ever have just another day at the office.” “The sums of money we deal with here are nothing like those of other ministries. It’s very hard to relate what we do to everyday life because of the number and size of the projects.” Since assuming office in March, the minister has scrutinised Statoil and its Canadian oil sands , travelled with HRH Crown Prince Haakon to the official openings of Statoil and Petrobas’ Peregrino Field in Brazil, Baku’s Caspian Oil and Gas Exhibition, and celebrated Ekofisk’s 40th birthday, amongst other functions. On Friday, the government issued its White Paper on the future of Norwegian oil and gas.

olabortenmoe , norwegianpetroleumandenergyminister

birthday this month, he says, “Ekofisk is one of the biggest Norwegian industrial investments ever. We have spent 1,800 billion kroner on it in the last 40 years, and decided to continue for another 40.”

“Back in 1971, we thought we would only be able to extract 17 percent of the resources, but have managed 52 percent to date. With ‘just’ 48 percent left, this presents a challenge for the future,” he continues.

Recent figures from operator ConocoPhillips indicate Ekofisk has produced 3,778 billion barrels of oil since Phillips Petroleum started operations, and given the Norwegian state 894 billion kroner in taxes.

“It has produced huge amounts and value for Norwegian society,” Minister Borten Moe says.

Coordinated and developmental

On the other side of ‘the pond’ 67 percent Statoil owners the Norwegian government, has reminded the company of its responsibilities in the case brought by the State of Alberta against Statoil Canada Ltd over alleged improper water withdrawals.

How can the government as shareholder be more active in addressing environmental and local concerns, at the same time as balancing these with Norway’s industrial and economic interests?

“We take it for granted that Statoil will follow local and national laws, guidelines, and restrictions as a big and responsible company, wherever they are. Whilst my impression is that Statoil does this, our requirements are that it is carried out in as an efficient and environmentally friendly manner as possible. Statoil also being expected to compete at the cutting edge of hi-technology means it is well-coordinated with these interests overall.