All posts by Janice Gundersen

Equinor taps new seismic data to bolster exploration and production efforts offshore Norway

Business News, Energy

(Bloomberg) – Equinor ASA said new seismic data is allowing for the reassessment of offshore oil and gas resources on Norway’s continental shelf, underpinning exploration and production efforts as the company targets as many as 30 wildcat wells a year through 2035.


Source: Equinor
“We are basically remapping the whole Norwegian Continental Shelf with new seismic technology, and we see quite a lot of interesting things left,” Kjetil Hove, Equinor’s head of Norwegian exploration and production, said Monday at the ONS conference in Stavanger.

Norway today supplies about a quarter of Europe’s natural gas, having replaced Russian flows cut in the aftermath of the invasion of Ukraine.

Existing infrastructure will produce most of the oil and gas that remains on the country’s continental shelf, with Equinor planning to spend between 60 billion kroner ($5.7 billion) and 70 billion kroner annually through the middle of the decade to maintain volumes, Hove said.

Read full article here.

AmCham’s Tech Talent Network at AWS: DEI in the Workplace & the Increasing Importance of Cybersecurity

AmCham News

AmCham’s Tech Talent Network at AWS: DEI in the Workplace & the Increasing Importance of Cybersecurity

The third Tech Talent Network (TTN) gathering of the year was hosted by AWS, where participants had the opportunity to meet with Nathalie Håkenstad on the impact and aims of DEI in the workplace and Martin Ingenes on the increasing role of cybersecurity for businesses and organizations.

DEI drives better business

Nathalie Håkenstad, Enterprise Account Manager at Amazon Web Services (AWS), discussed the importance of Diversity, Equity, and Inclusion (DEI) within the workplace and how companies should integrate these principles into their business strategy. She emphasized that DEI is not a quick fix or a mere checkbox exercise but is fundamentally about ensuring representation, fairness, and a sense of belonging for all employees.

Nathalie explained that a diverse workforce isn’t just morally right; it also drives better business outcomes by appealing to a broader customer base and building trust through better connections. DEI initiatives help ensure that all employees feel they can bring their true selves to work, which in turn positively impacts customer relationships.

 

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A need for more proactive cybersecurity

Martin Ingenes, founder of and principal consultant at the penetration testing company Kovert, highlighted the critical role of cybersecurity in protecting organizations from increasingly sophisticated threats. Kovert specializes in penetration testing, red team simulations, and social engineering, including phishing attacks that exploit human error to gain unauthorized access.

Martin underscored the persistent challenge in cybersecurity, where defenders often think in lists, while attackers think in graphs, making the latter better equipped in finding vulnerabilities. He provided examples of how phishing sites can be used to deceive users and how attackers, once inside, can navigate through multiple levels of an organization’s defenses. Martin stressed the importance of proactive security measures, as rates of attacks are increasing from a broad range of actors around the globe.

Afterwards TTN participants gathered for afterwork drinks at Aker Brygge for networking and planning future TTN topics.

TTN is a non-competitive arena for knowledge sharing, professional development, and expanding international market insights, currently open to select Patron-level technology industry member representatives. Exclusive quarterly sessions with industry leaders and external speakers create opportunities for collaboration and leadership development.

For further information and interest in the program, please contact Ragnhild.Dalen@amcham.no.

Cisco-sjef Trine Strømsnes: Norske bedrifters cybersikkerhet må styrkes

Business News, Technology

SYNSPUNKT. I en helt fersk rapport, belyses de utfordringene og mulighetene som ligger foran norske beslutningstakere innen IT og teknologi. Vi står nemlig i dag overfor en systematisk cybersikkerhetstrussel drevet av ulike aktører med forskjellige interesser, og norske virksomheter er viktige i det forebyggende sikkerhetsarbeidet. På tross av økte kostnader generelt, må norske virksomheter investere i å ha sikre og gode systemer, som sørger for at virksomheten kan møte et økt trusselnivå.

Tette koblinger og avhengigheter, rask implementering av ny teknologi, samt komplekse og lange verdikjeder på tvers av flere sektorer, fører til økt reguleringsomfang, større angrepsflater og til slutt et mer krevende sikkerhetsarbeid.

Et stort antall norske og europeiske regler, som påvirker oss selv om vi står utenfor EU, kommer nå på løpende bånd for å styrke samfunnets og virksomhetenes motstandskraft. De viktigste europeiske reglene for norske beslutningstakere på sikkerhetsområdet er NIS2-direktivet, CER-direktivet, Cybermotstandsdirektivet og Cybersikkerhetsloven.

Les hele artiklen her. 

24th AmCham Golf Tournament

AmCham News

Generously sponsored by Oracle and PwC, the AmCham Golf Tournament celebrated its 24th anniversary at Asker Golf Club, bringing together the AmCham community with 24 teams comprised of 96 players from all sectors of Norway’s international business community to network and compete for the coveted Søderstrøm Cup and a top prize of flight vouchers to the US from Icelandair.

The tournament’s format, Texas Scramble and special hole competitions, kept golfers on their toes and ensured everyone had a great day “at work!”

Gathering for the second time at Asker’s beautiful course, the players had great fun – not letting a little rain put a damper on their competitive spirits!

In a close team competition, Bardo Foundation came in first place and walked away with the tournament cup, four round trip tickets from Icelandair to any of their US destinations, as well as prizes provided by Mondelez and AmCham whiskey glasses.

Oracle Team 1 came in second, just ahead of Helly Hansen in third. The 2nd and 3rd place winners walked away with prizes from Asker Golf Club, Thon Hotels, Google, Starbucks, Engelstad and Warner Bros Discovery. PwC Team 2 in 4th place also taking home prizes from Shades of Norway, Amerikalinjen, Helly Hansen and LUCID Motors. 

As in previous years, several individual prizes were also up for grabs. Jon Kittelsen earned the “closest to the pin,” taking home a bottle of American wine courtesy of AmCham Norway along with a gift card for virtual golf at PINPIN Oslo.

DVS Air & Sea’s Daniel Magnussen captured the men’s prize for longest drive and Aker ASA’s Vibeke Elgborn won the women’s longest drive, each coming away with Eleni & Chris hair and skincare set from IC Scandinavia and a gift card for virtual golf at PINPIN Oslo.

LUCID Motors joined the players on the course with a special competition – guess how many golf balls are in the frunk of the LUCID Air. With over five thousand golf balls the closest guess and winning a weekend with the car was Trygve Gravdahl from Ræder Bing.

The tournament ended with a delicious BBQ meal on Asker Golf club’s terrace.

The winning team: Bardo Foundation with Bjarne Eggesbø, Christian Falster, Mikko Korhonen, Ole Morten Hauge

We would like to thank PwC and Oracle for their sponsorship and for making the 24th edition of our annual golf tournament one to remember. We would also like to thank Coca-Cola European Partners Norway for their tournament beverage sponsorship.

We look forward to seeing everyone at next year’s tournament and 25th anniversary!

The increasingly popular tournament is held in August each year, the week after Arendalsuka. For questions about participation, prizes, or sponsorship for the AmCham Golf Tournament, please contact Madeleine Brekke at Madeleine.Brekke@amcham.no

2024 Prize Sponsors

AmCham at Arendalsuka 2024 – Building a Collaborative Ecosystem for Sustainable Healthcare Innovation

AmCham News

AmCham at Arendalsuka 2024 – Building a Collaborative Ecosystem for Sustainable Healthcare Innovation

At this year’s Arendalsuka, AmCham hosted an event at the Clarion Hotel Tyholmen to explore how Norway can sustain its high-quality healthcare system through enhanced collaboration while the population is aging, budgets rise and oil revenues decline. The panel of industry leaders and politicians highlighted a significant trust issue between Norway’s public healthcare system and the private healthcare sector, a cultural barrier that hinders effective public-private collaboration and innovation.

Tore von Wurden (Country Director for Denmark/Norway/Iceland, Amgen) noted that Norway, in its current “luxury situation,” has the resources and potential to drive significant change but is hindered by a surprising level of distrust in public-private healthcare partnerships. He drew parallels to Norway’s successful public-private collaboration in the oil industry, suggesting that similar trust and cooperation are essential for creating a sustainable healthcare ecosystem.

Stefan Ohlsson (Vice President and General Manager, IQVIA Nordics) pointed out that while Norway has strong ambitions and a solid foundation for research, progress is not happening at the necessary speed. He urged a more proactive approach to healthcare delivery, leveraging digitalization and data analysis to meet the evolving needs of the population. Larsson also highlighted the success of global collaboration during the COVID-19 pandemic as a model for how public and private sectors can work together effectively both domestically and internationally.

Nina Zoric (Engagement Manager, McKinsey & Company) stressed the importance of acknowledging Norway’s world-class healthcare system but warned that long waiting times and an aging population are increasing pressures on the system. These challenges, she argued, are too complex for the healthcare sector to address on its own. Zoric also noted that Norway lacks the experience needed to integrate business with scientific research, which hampers the commercialization of scientific investments and advancements. To achieve the country’s ambitious goals for a growing healthcare industry, she also highlighted the need for improved financial incentives to attract international talent and companies. 

Matthew Iles (General Manager, Abbvie Scandinavia) discussed the economic constraints on healthcare, noting that the demand for treatment is overwhelming across Europe. He argued that healthcare investments should be viewed in the context of their broader societal impact, not just immediate costs. Like many of his industry colleagues, Iles also pointed out the trust issues within Norway, particularly the reluctance to integrate the international healthcare industry into the healthcare system. He emphasized the need for a shift in mindset to leverage Norway’s potential in life sciences and innovation.

Joachim Thorkildsen (Assistant Subject Director in Medicine and Health Sciences, Vestre Viken HF) acknowledged a disparity between Norway’s strategic healthcare goals and the reality on the ground. He emphasized the need for more strategic objectives beyond the current procurement system and called for a more active and outward-facing approach to partnerships between the regional health trusts and the private sector to meet patient needs through innovative solutions, with the help of efficient national regulation.

Andreea Mocofan (Managing Director, MSD Norway) reinforced the critical role of the health industry in improving life expectancy, health outcomes, and economic growth. She called for a reassessment of Norway’s reimbursement system, which currently focuses too narrowly on price, suggesting companies should be rewarded for their research and innovation developed from investments in Norway. Further, Mocofan suggested that the country could learn from its success in promoting electric vehicles through intentional financial commitments and ecosystem collaboration to reach their ambitions for the healthcare industry.

Sveinung Stensland (H) reflected on the deep-rooted cultural issues in Norway, where the healthcare industry is sometimes viewed with the same skepticism as the tobacco industry. He argued that this mindset needs to change to allow for greater investment in healthcare innovation, like the governments successfully have done with other industries such as oil and EV’s.

Tuva Moflag (AP) echoed Stensland’s sentiments, acknowledging the cultural barriers and the need for collaboration between the public and private sectors to achieve Norway’s healthcare ambitions. Although it is the job of politicians to set high ambitions, they also need to listen to what the industry is telling them.

The discussion at Arendalsuka underscored the importance of trust, collaboration, and a strategic vision in navigating the complex challenges facing Norway’s healthcare system.  The consensus was clear: to maintain the high standards that we currently enjoy, Norway must embrace a more integrated approach, leveraging both public and private strengths.

AmCham remains committed to advancing this agenda and encouraging greater conversation between public and private stakeholders.

Thank you to our partners:

A Message from the Managing Director

AmCham News

A Message from the Managing Director

Aim High!

During last week’s AmCham panel debate in Arendal, MP Tuva Moflag (Ap) very astutely observed that “Norway is seen as an unpredictable partner for innovation. As long as industry gives us this kind of input, we have to take that seriously.”

The already keen audience, including senior representatives from 17 global healthcare companies, focused even more intently as she went on to explain how “our role as politicians is to set ambitious goals – if we don’t aim high, we won’t go anywhere.”

Aiming high – while methodically evaluating progress toward our shared goals – should be paramount as we ramp up after the long summer hiatus. AmCham’s international members continue to inspire and lead the way within innovation and value creation. Let’s collectively make the case for as much of that happening in Norway as realistically possible.

Looking ahead, our revamped US Companies in Norway report will soon be released. In partnership with Menon, the report highlights just how significantly US businesses’ investments and activities contribute to Norway’s economic landscape. With a record 389 active US companies in Norway, our report lists top revenue and tax generators, employers, and key direct investment sectors.

AmCham’s engaging autumn line-up will also happily include our 24th annual golf tournament, our joint US energy technologies reception at ONS in Stavanger, fresh installments of our popular defense, sustainability and financial forums, our continuing Mentorship Program and Tech Talent Network for leadership development, our big US Election Night event (stay tuned for details!), and of course our November 25th Thanksgiving Charity Dinner.

JT_24Aug

Jason Turflinger

 

We hope you prioritize these unique meeting opportunities to forge and reinforce the relationships you need to advance your transatlantic business acumen!

My colleagues Madeleine, Janice, Ragnhild and I are sparked and motivated each and every day by you, our esteemed members and partners. Thank you for your engagement and committed support. We also sincerely welcome our many new 2024 member companies, new member and partner representatives, as well as our new intern Emma!

Chargé d’Affaires ad interim Eric Meyer

Business News, Government

Eric Meyer, a career member of the Senior Foreign Service, will assume the position of Chargé d’Affaires, a.i. at the U.S. Embassy in Oslo in August 2024.

Most recently, Eric served as Chargé d’Affaires, a.i. and Deputy Chief of Mission at the U.S. Embassy in Skopje, North Macedonia. He previously served as U.S. Consul General and Principal Officer in Almaty, Kazakhstan, representing U.S. interests in southern Kazakhstan at the only U.S. Consulate in Central Asia. From 2016-2017, Eric served as Special Assistant and Senior Advisor in the Bureau of South and Central Asian Affairs in Washington. Prior to that, he was Consul General in Phnom Penh, Cambodia where he frequently served as Acting Deputy Chief of MissionEric was previously Consul at the U.S. Embassy in Helsinki, Finland where he also served on the board of the Fulbright Commission. His first diplomatic overseas assignment was as Vice Consul in Buenos Aires, Argentina followed by an assignment as a Cultural Affairs Officer in Cairo, Egypt. In Washington, Eric also served as an advisor in the Bureau of Oceans and International Environment and Scientific Affairs during the U.S. Chairmanship of the Arctic Council.

Prior to joining the U.S. Department of State, Eric worked in corporate sales and government relations in the airline industry. He graduated from the University of California Berkeley with a degree in Political Science and has an MBA from Georgetown University. He is the recipient of several State Department Superior and Meritorious Honor awards and speaks Danish, Finnish, French, Russian and Spanish.

Read full article here.

Equinor wins offshore wind lease in US Central Atlantic auction

Business News, Energy

Equinor has been announced as a provisional winner in the Bureau of Ocean Energy Management’s (BOEM) offshore wind energy lease auction in the U.S. Central Atlantic region. The ~2 gigawatt (GW) lease will have the capacity to produce enough energy to power approximately 900,000 U.S. homes.

With a bid of $75,001,001 for 101,443 acres in the Atlantic Ocean, Equinor secured one of two fixed-bottom lease areas in the BOEM auction located 26 nautical miles from the mouth of the Delaware Bay.

Equinor will now work with BOEM to certify the lease, and after regulatory approvals, the Central Atlantic site would be added to Equinor’s existing U.S. offshore wind portfolio.

Read full article here.

Norge mot 2060 – Velferdsmodellen er et felles prosjekt som vi skal verne om og videreutvikle

Business News, Government

Norge er et godt land å leve i. Folk har muligheter til å utvikle seg, bidra og skape verdier. Tilliten i samfunnet er høy, og folk lever lenge. Vår velferdsstat gjør kunnskap, helsehjelp og bistand i ulike livssituasjoner tilgjengelig for alle. Velstanden er jevnere fordelt enn i de fleste andre land. Offentlige velferdsordninger understøttes av solide statsfinanser.

Å sikre trygghet for folk i Norge er regjeringens mest grunnleggende oppgave. En ny sikkerhetspolitisk situasjon krever at vi bruker mer av samfunnets ressurser på forsvar og beredskap i årene fremover.

Nye muligheter og utfordringer møter oss. Perspektivmeldingen drøfter langsiktige utfordringer i norsk økonomi. Hovedutfordringer som belyses, er:

  • Kamp om arbeidskraften: Omsorgsoppgavene blir flere, men vi blir ikke flere i yrkesaktiv alder til å utføre dem.

  • Behov for omstilling: Økte spenninger i verden, klima- og naturendringer og avtagende petroleumsaktivitet fører til endringer og forsterker behovet for å bruke ressursene godt og riktig.

  • Fortsatt god fordeling: Små forskjeller og stabil tilgang på velferdstjenester må bevares i møte med omstillingene og at mange lever lenger.

Formålet med denne meldingen er å belyse hvordan den norske velferdsmodellen som felles prosjekt kan vernes og videreutvikles i møte med utfordringene. På samme måte som at man skal overlate gården i bedre stand enn da man overtok den, bør vi også ta vare på og utvikle samfunnet til beste for kommende generasjoner. Det forutsetter kloke valg.

Les hele artiklen her.

Rare Earths Norway Uncovered Largest Deposit in Europe

Business News, Chemicals / Metals

Norway just struck a gold mine. Well, a rare mineral mine. 

The Norwegian mining company, Rare Earths Norway, just uncovered the largest deposit of rare earth elements in Europe. The discovery has major implications not just for the company, which is certainly poised for a windfall, but for global geopolitics. 

Rare Earths Norway found the deposit in the Fen Carbonatite complex located in the southern tip of the country, according to a press release. These rare elements, which are a family of 17 metals, are used in a host of consumer electronics like smartphones and flat-screen TVs. They’re also critical for the green-energy transition because they are key components in products like electric vehicles and wind turbines. But, as the name suggests, they are in short supply around the world. By dint of geography or luck, the vast majority of rare earth elements are found and extracted in China, giving the world’s second largest economy extraordinary influence in determining their supply and demand across the world. Currently, China accounts for 70% of the extraction of these elements from the ground and 90% of their processing, according to research from the Oxford Institute for Energy Studies, an independent energy research institute.

Read full article here.