Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

New oil and gas exploration set for Arctic waters

20/05/2016 by Sharon Shahzad

W1siziisijiwmtyvmduvmjavmtavmdyvmtavndy5l09pbcbhbmqgz2fzihbyb2nlc3npbmcgcgxhbnquanbnil0swyjwiiwidgh1bwiilci2mdb4ndawxhuwmdnlil1d

It has been reported that Norway’s Government is to open up a new area of Arctic water for oil and gas exploration. On Wednesday 18th May, the nation broke more than two decades of tradition to award new licences in a bid to develop new long-term drilling prospects. Norwegian Minister of Petroleum and Energy Tord Lien said: “Today we are opening a new chapter in the history of the Norwegian petroleum industry.”

Norway is currently the region’s largest producer of oil. In the latest licence offering, 13 companies, including ConocoPhillips, Chevron Corp and Statoil SA, have been offered ten drilling licences. The three areas set for exploration are located in the Arctic Barents Sea, a region that has caused some dispute with Russia in the past.

Talking of the possible opportunities in store for the energy industry, Lien said: “The Barents Sea offers great new opportunities. The industry’s interest in new acreage shows that the Norwegian continental shelf remains attractive. The potential is huge.”

The latest move by the Norwegian Government has largely been attributed to falling oil prices. With weaker oil prices, many energy firms have had to slash their investments, often by billions of dollars. However, the Government hopes that new activity in Arctic waters could help stabilise offshore drilling operations for years to come. New fields might also be able to offset some of the dropping production levels being experienced by aging North Sea areas.

Since 2000, the oil output from Norway has halved and, as a result, taken a severe toll on the Government’s income. Between 2013 and 2015, the industry lost 25,000 jobs, with the overall oil-related labour force shrinking by 11 per cent.

The new licences haven’t come without a certain amount of opposition, particularly from environmental groups. Many people have cited the potential threat of possible oil spills, with Arctic wildlife likely to be affected as a result. There are also worries about greenhouse gas emissions from larger oil and gas volumes being burned. Head of Greenpeace Norway Truls Gulowsen said: “We cannot risk a Deepwater Horizon in the Barents Sea,” making referencing to the Gulf of Mexico oil spill that occurred in 2010. Gulowsen also said that Norway was one of almost 200 counties to sign an agreement in Paris to prevent global temperatures rising by 1.5°C. “In such a scenario there is no room for Arctic oil exploration,” he said.

 

 

About Us

Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP Recruitment, BI & Data Recruitment, Information Security Recruitment, Enterprise Architecture & Strategy Recruitment , Energy Technology Recruitment, Demand IT and Business Engagement Recruitment, Digital and E-commerce Recruitment, Leadership Talent, Infrastructure and Service Delivery Recruitment, Project and Programme Delivery Recruitment.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdcvmtgvmdgvndcvmduvntu5l2jpz3n0b2nrluv4b3rpyy1qyxjhzglzzs1ucmf2zwwtvg91cmktmtc2mju4ndm3lmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Getting Ready to Switch Off

2017-07-17 09:00:00 +0100

According to research by online travel company Expedia, just 53% of workers come back feeling rested after they’ve been on holiday. When you bring work-related stress on holiday with you, you’re never going to be able to truly switch off. So if you've got a summer holiday coming up, what should you do to switch off and unwind? Before you leave... Plan ahead As soon as you know when your last day of work is, make a plan. You don't want to get to that fin...

W1siziisijiwmtcvmdyvmzavmtyvmtgvmjavmtg5l3nodxr0zxjzdg9ja182njkxody3mdkuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

In Her Shoes... SAP Contracting

2017-07-03 09:00:00 +0100

In IT, being a freelancer is very common; due to the nature of project work or other life commitments. SAP is an area in which a quality freelancer can really thrive. We sat down with one of our SAP freelancers, who has 20 years' experience, to find out more about SAP and working under a contract employment model. "After getting a degree in computing, I started my career as a training assistant, but I've always liked to fix things. I used to fix my own ...