AKER BP ASA
His initiatives ensured healthy competition and a large number of players on the shelf. He established the State's Direct Financial Interest in oil and gas activity (known as SDOE in Norwegian), which has brought enormous income to
Jury's Reasoning: 2019 has been another year without a big discovery, but high activity has yielded north of 600 MMboe with many of the discoveries representing high value such as Froskelar, Echino South, Shrek, and
Havar Blakset, Rystad Energy;
Jury's reasoning
2019 has been yet another year of high business development activity with even more transactions than last year. A total of 18 significant transactions occurred with a total transaction amount of
The winners have been able to create a win-win situation by exchanging shares, assets, and cash in 2019 building on a deal done 3 years ago.
Jury's reasoning
The field development year of 2019 is most likely telling for the coming future: The majority of new developments will either be smaller fields being tied back to existing infrastructure or redevelopments of old fields. During 2019 four new fields achieved first oil, of which three fields were tie-backs to existing hubs. The fourth field is the third-largest field ever on the NCS, and is already contributing to 20% of the Norwegian oil production. In addition to the four start-ups, seven PDOs were approved in 2019, so there are still more to come.
The winner impressively delivered well below budget and ahead of schedule. The field is expected to produce for 40 years and will yield immense economic benefits for
Jury's reasoning
2019 has been a fantastic year for the operators on the NCS, making it challenging for the jury to select both nominees and the winner among many high-performing candidates. However, the winner stands out.
The operator continued a strong 2018 with an even more impressive 2019 and can look back at the year with superb operational performance and excellent HSE results.
The winner keeps delivering solid results in terms of both production efficiency and resource growth; maintaining production and adding reserves while at the same time keeping costs at world-class levels.
The operator is continuously pushing the limits further, with a new drilling campaign sanctioned and exciting new tie-backs - creating a field that will continue to produce sweet music to the operator's ears for many years to come
Jury's reasoning
2019 was a great year for
The jury is proud to nominate four impressive ventures; all at the forefront of their fields, entering competitive markets, creating new jobs, and helping the industry to increase productivity through innovation.
This year's winner of the New Venture of the Year
They had a remarkable 2018, continued their success in 2019, with no plan on stopping in 2020, Their technology checks all the boxes: reduces emission, increases production, and reduces costs, their hardware is installed in the dark depths of reservoirs globally, on its own, fighting the environment and increasing productivity as only autonomous devices can do
It's been a long journey, we have waited in anticipation for the breakthrough, and the time has come.
Jury's reasoning
All nominees are great examples of companies that have consistently grown their revenue and international footprint providing key services to the oil and gas industry.
The Winner has demonstrated a breakthrough with several years of breathtaking organic and profitable growth.
With a scalable business model and good traction with main service providers, this is going to continue.
The Winner provides tools for improving one of the core processes in the industry, namely the drilling process.
With the Winner's anti-stick-slip tools drill-bits can move smoothly towards their reservoir targets.
Jury's reasoning
The Gullkronen 2020 Business Success award goes to a company that has, for a long time, been punching above its weight. The winner shows that it is possible to, through belief in technology as a means to deliver superior services and more value to the customer, emerge from the depths of the Norwegian service industry to challenge the hegemony of the World's largest oil service companies on the global stage. The company's superior offering has produced outstanding financial performance including limited impact from the industry cycle, 30% annual growth since 2016, and 40% margins.
The winner is on track to break new records in 2020 and beyond, as it has merely dipped its toes into the underlying market potential - a potential the jury is confident the company will remain 'plugged' into.
Jury's reasoning
During 2019, a wide range of significant initiatives was taken to reduce the environmental footprint of the Norwegian Continental Shelf. Never before has the list of qualified initiatives been longer and more diverse. The jury is proud to nominate four candidates representing technologies with the potential to change, not just the Norwegian, but the global petroleum industry towards a more sustainable one in the future.
This year's Green Initiator of the Year
Has through systematic work over time matured an innovative and groundbreaking project which will make a considerable contribution to reducing emissions in the Norwegian petroleum industry
The project represents important steps within technology development, technology cost reduction and development of new expertise
The winner together with the supplier industry might even facilitate a new industrial adventure for
Contact:
Tel: +47 24 00 42 00
Email: info@rystadenergy.com
(C) 2020 Electronic News Publishing, source
