New oil deals rile environmentalists / News / The Foreigner

New oil deals rile environmentalists. Norwegian environmentalists have reacted with dismay to the parcelling out of exploration rights for oil and gas in the Barents Sea. Norway’s Minister of Petroleum and Energy Ola Borten Moe signed an agreement allowing four companies to drill just south of the Lofoten area beginning last Friday. It follows a decision last month to prevent exploration in other marine areas, which the Government deemed vulnerable to oil drilling. The areas of Lofoten, Vesterålen and Senja, have all been protected on the advice of the Ministry of Fisheries, Ministry of Environment, the Institute of Marine Research and state environmental agencies, Aftenposten reported.

olabortenmoe, statoil, dnbnor, runebjerke, oeyvinderiksen, aker, larshaltbrekken



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New oil deals rile environmentalists

Published on Tuesday, 19th April, 2011 at 09:05 under the news category, by Ramona Tancau.

Norwegian environmentalists have reacted with dismay to the parcelling out of exploration rights for oil and gas in the Barents Sea.

An oil exploration platform in Stavanger (illus. ph.)
An oil exploration platform in Stavanger (illus. ph.)
Photo: astronautilus/Picasaweb


Norway’s Minister of Petroleum and Energy Ola Borten Moe signed an agreement allowing four companies to drill just south of the Lofoten area beginning last Friday.

It follows a decision last month to prevent exploration in other marine areas, which the Government deemed vulnerable to oil drilling. The areas of Lofoten, Vesterålen and Senja, have all been protected on the advice of the Ministry of Fisheries, Ministry of Environment, the Institute of Marine Research and state environmental agencies, Aftenposten reported.

Lars Haltbrekken, leader of the Friends of Earth Norway, who then celebrated the Government’s decision to spare the three areas from drilling, is now appalled by Mr. Moe’s decision. 

“How can the Government argue that the Lofoten, Vesterålen and Senja are particularly important, but also give the oil industry access to these areas?” he replied in an interview with Aftenposten.

The rise in oil prices, on the back of Middle East unrest, multiplies the NOK value of any new exploration deals.

As unpopular as the Minister of Petroleum and Energy decision is, it had an immediate impact on the industry, given the world political and economic climate.

Consequently, Statoil’s shares were bought for 151.00 NOK each on Friday, 15th April, 2011.

Furthermore, the demand for labour force has also increased, according to Aker ASA CEO Øyvind Eriksen.

“We need thousands of new employees in the oil and gas related business just to cover the activity we now see the outlines of,” he told NRK.

Even the demand for rigs and drilling vessels has risen.

“We are experiencing a rapid growth in sales of both rigs and drilling vessels. The reason is the high price of oil, and that the turbulence associated with the accident in the Gulf of Mexico has declined,” DnB Nor CEO Rune Bjerke said.



Published on Tuesday, 19th April, 2011 at 09:05 under the news category, by Ramona Tancau.

This post has the following tags: olabortenmoe, statoil, dnbnor, runebjerke, oeyvinderiksen, aker, larshaltbrekken.





  
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