Arctic OIl Research Center to be Established

Press Release
Thursday, June 28, 2012

A new research center devoted to matters of interest to the oil industry in the Arctic is to be set up in North Norway

The initiative was presented recently at the Arctic Energy Agenda , a meeting of top energy representatives from a number of countries and companies. At the meeting, the Norwegian Minister of Petroleum and Energy Ola Borten Moe also presented key facts about the 22nd Norwegian License Round , which includes as many as 78 new blocks in the Barents Sea.

“The expanding petroleum activities in the High North will be strengthened with the development of knowledge and new technology”, the minister says. “Our objective is that academic environments and industry in the North cooperate about the generation of knowledge linked with Arctic challenges”, he adds.

The Arctic Energy Agenda included a number of political representatives, among them U.S Secretary of the Department of the Interior Ken Salazar and his deputy David Hayes, as well as ministers from Canada and Iceland.

Ambassadors from all the Nordic countries, as well as Russia, were present, along with representatives from ConocoPhillips, BP, ExxonMobil, Shell, Gazprom Neft and Statoil.

It is not known exactly where the center will be established, however the cities of Bodø and Tromsø are both likely alternatives. The institution will be co-financed by the Ministry of Petroleum and Energy and the Ministry of Foreign Affairs, along with corporate interests.

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