ONS 2016 is humming and yesterday a delegation from the Norwegian parliament, Stortinget was received by Senior Vice President in Scandinavia Terje Skeie.
Terje Skeie, who could tell them what can be done in the upstream oil & gas industry in challenging times with low oil prices.
During the discussion between the parliamentary delegation and Welltec® opportunities for economic growth through applying technology and new approaches was a key subject, as a lever to meet and tackle the challenges in the oil and gas industry.
Among our solutions the economic benefits for the oil and gas industry in Norway of our Flex Well® approach were discussed, including them there is a faster and safer installation that leads to earlier production and reduced well construction costs.
The importance of keeping production high through intervention and maintenance work of existing wells, that can yield incremental barrels at a much lower marginal cost than drilling for new oil was also discussed. The impact is increased total recovery of the Norwegian oil and gas resources at an increased value for the Norwegian society.