Arctic oil money awaits

Norway’s supply industry has major moneymaking opportunities by developing new technologies for field development in the Arctic, according to Intsok.

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Intsok heads a project for promoting oil and gas sector industrial cooperation in Arctic waters between Russia and Norway. This picture is from Greenland. Foto: Foto: Jan-Morten Bjørnbakk / Scanpix

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The foundation heads a project for promoting oil and gas sector industrial cooperation in Arctic waters between Russia and Norway.

Project chairperson Håkon Skretting says, “We will research and discover both who already has today’s solution, and where the gap is requiring development of new ones.”

Great opportunities

“Our job is to promote Norwegian technology, and we will show the Russians what we currently have today. There are also great opportunities here for local firms to develop new technology that we can sell abroad,” he adds.

Delegations from Gazprom and Rosneft are to meet Intsok under this year’s ONS. The foundation hopes to market the project and the Norwegian supplier industry.

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