STAVANGER — Since ONS in 2016, the landscape of E&P companies on the Norwegian Continental Shelf (NCS) has changed significantly. New players have entered the arena, companies have merged and several of the larger majors have changed their organizations, altered their business models or even changed their names and branded outfit, such as Equinor.
At ONS 2018 you will get updated on the new E&P landscape on the NCS.
Several new players have merged–and emerged.
Point Resources is the result of several mergers. With the upcoming, and yet-to-be-formalized, merger with Eni Norway, Point Resources will be part of a new company, Vår Energi, by the end of the year.
BP’s exposure on the NCS is now through AkerBP, while French Total bought Danish Mærsk Oil. The combinations of Centrica and Bayerngas, and Wintershall and DEA represent more classical mergers.
Okea grows into a new major operator in the North Sea after taking over Draugen field from Shell. And the funds Carlyle and CVC Capital Partners have supported British Neptune Energy’s acquisition of Engie and VNG and their ambition to grow in the North Sea.
The oil and gas players on the shelf are more diversified financially as well as geographically. The new players are entering the shelf, with a clear objective to invest, grow and innovate NCS. A healthy diversity on the shelf is being maintained. ONS is proud to have 28 E&P companies as exhibitors both traditional larger companies and new players that demonstrate a willingness to invest, creating value and by adding to the innovative ecosystem on NCS.
Source: World Oil
Published: September 27, 2023