Cost Challenges To A Commendable FORCE

BMI View: The Norwegian Petroleum Directorate (NPD)'s attempt to stimulate increased oil recovery (IOR) in ageing oil fields through technological collaboration, embodied by the FORCE project, is a bold move that could help to stem the decline in the country’s oil output. It complements other initiatives, such as the opening of new acreage for exploration and production, which are improving Norway’s oil production outlook. However, we note that the country's high production costs could deter companies from making long-term commitments to their Norwegian assets. This could in turn affect their interest in the success of FORCE.

To read the full article, please choose one of the following options: