New project to get every drop of oil

More than 300 scientists are involved in a new research center for drilling and well operations. But funding is not in place yet.

The petroleum industry is behind the initiative which the main goal is to increase the value of oil and gas reserves. New technology will ensure that the search should be more precise, and therefore cost-effective and safer, while the recovery rate should be increased. The research is a collaboration between IRIS, SINTEF and University of Stavanger (University of Stavanger) and Trondheim (NTNU) to reveal new drilling and well technology.

The idea is that investors from the shelf will fund the research, that involves over 300 scientists.

We have received informal promises of subsidies, but they are not in place yet, says special adviser Tor Stein Ølberg SINTEF said.

He said it was an important and critical time to get started, and that’s why they started the project without the funding ready.

This should have been done for at least five years ago.

Ølberg hopes to get state funds by seeking financing for individual projects. Research Minister Tora Aasland (SV) welcomes the projects, but make it clear that the industry must provide the funds.

“We appreciate the initiative. Furthermore, advances in drilling and well technology is absolutely central to why we should not lose the potential we have and to prevent further decline in production,” she says.

Source: hegnar.no