Finance

His Royal Highness The Crown Prince Haakon showed great optimism in the oil and gas industry

HRH Haakon was present at the ONS 2018 in Stavanger on Monday. He opened the ONS fair and also gave a speech in which he highly praised the oil and gas industry and talked about the climate change. He also considered the need for making space for the new generation in the industry.

The industry has gone through many readjustments over the past years and has affected considerable parts of the nation’s economy. It has changed many people’s everyday life.

The industry has been able to reduce the production cost and increase its efficiency in the difficult times.

Talking about global warming, HRH Haakon stated that “The threat of global warming affects all industries and perhaps, in particular, the energy sector. In addition, the world’s population is growing and so is the demand for energy.”

Talking about the capabilities of the oil industry, he said that what the industry can achieve has a huge impact on nations, communities, and individuals. They can make a difference. His Royal Highness called the industry “a key figure” for a better, sustainable tomorrow. He also appreciated the industry’s knowledge, expertise, and experience in developing new solutions.

Taking a stance on ONS theme, i.e., innovate, he said that innovation is a keyword to accelerate progress and make a positive impact for the future. So, to innovate, it is important to  “make room for new generations of energy professionals”.

He ended his speech by highlighting the complicated challenges of obligation to deliver energy to the world’s population but at the same time to protect the planet.

Johan Sverdrup Phase-2

According to Mr. Terje Søviknes, Minister of Petroleum and Energy, the development plans for the second phase of Johan Sverdrup field would be the new milestone for Norway’s largest industrial project. It is estimated to generate more than NOK 900 billion in revenues of the Norwegian state. The first and second phase of the project together can create up to 150,000 man-years in the period to 2025. The plans for the development phase will create jobs and high ripple effects across the country.

HRH Haakon handed over the plans for the development of the second phase to Søviknes from Equinor on the same opening day of the fair.

 

 

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