Revus has been taken over by Wintershall and Noreco remains independent. What will the future bring?
Scott Kerr, CEO of Noreco yesterday presented at the NPF conference titled 'Revus has been taken over by Wintershall and Noreco remains independent. What will the future bring?'. In his presentation, Scott Kerr made the following observations on the Norwegian oil and gas industry structure
- The E&P 'majors' will focus on extracting maximum from existing fields and substantial exploration opportunities
- Other international E&P companies will continue to grow in Norway, but a number will exit
- More consolidation will come about in the E&P industry in the North Sea region
- The real key to the future will be the companies that are best at integrating exploration and development technology
- A strong service company involvement is more important now than ever
- The impact on the Norwegian oil and gas industry is that the future is more technology driven and less construction driven
Contact:
VP Strategy & Investor Relations: Einar Gjelsvik (+47 99 28 38 56)