Norway: NPD to Award IOR Prize at ONS 2012

The Norwegian Petroleum Directorate’s 2011 prize for improved recovery will be awarded on the opening day of ONS in August. Director General Bente Nyland has taken the initiative to move the award ceremony to ONS.

“The Norwegian Petroleum Directorate and the ONS management have discussed the possibility of making the award of the IOR prize a permanent part of the ONS programme,” says Nyland.

 “We in ONS are very satisfied that the Norwegian Petroleum Directorate wants to award the highly prestigious IOR prize on the opening day. This prize reflects our spirit – focus on innovation and the best use of resources,” says Kjell Ursin-Smith, President and CEO of ONS.

The IOR prize is awarded to production licences, companies, projects or individuals that have created additional value on the Norwegian continental shelf through innovative actions and plans related to improved oil recovery.

Nyland says that Norway is a pioneering country when it comes to developing and utilising methods to improve oil recovery from producing fields.

“But when more than half of the oil on the Norwegian shelf remains in the subsurface under the current recovery plans, this is a challenge both the authorities and the industry should devote considerable energy to.”

Improved recovery is a key factor in avoiding a steep decline in Norwegian oil production. The newly adopted Petroleum White Paper also notes the significance of improved oil recovery, and the Storting (Norwegian Parliament) has endorsed the establishment of a designated centre with the main task of researching new methods to improve oil recovery.

The Norwegian Petroleum Directorate has awarded the IOR prize every year since 1998. When the award ceremony is moved to ONS, the prize will only be awarded every two years.

“I hope this gives the prize an even greater impact,” says the Director General.

The award ceremony has been held in multiple arenas, both at the NPD’s own events and at various conferences, mainly organised by NPF. However, the Norwegian Petroleum Directorate has long been on the lookout for a permanent arena for the award ceremony with an audience that is in a position to make decisions regarding improved oil recovery measures.

 “This helps show that the Norwegian authorities emphasise improved oil recovery as an important part of our resource management, as well as highlight efforts that have contributed towards this,” Nyland notes.

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Source: NPD, February 28, 2012