Norway Allocates Add'l NOK 84.8 Mln for Petroleum Research

NOK 222.3 million has been allocated for petroleum research in 2005. This is NOK 84.8 million more than last year.

This increased capital input in R&D ensures that the oil and gas industry will continue to be a major contributor to industrial development and the funding of our welfare society. "This large increase in R&D funds is very positive for the petroleum industry. When the government makes such a large contribution to research, the industry will follow up", says director in the Norwegian Petroleum Directorate (NPD), Eva Halland.

When it became known that allocations for research were likely to increase considerably, the petroleum research gathered momentum, and there was an increasingly positive attitude in the research environments.

"For a while we were worried that the R&D environment was about to disappear, but now we see that it prospers again. The final call from Petromaks in 2004 received far more project applications than we had the means to allocate", says Halland, who is also on the board of Petromaks.

The authorities help
The NPD's goal is to enhance production from existing fields and increase the exploration activity in the future. Halland is of the opinion that Norway is well-equipped to face the upcoming challenges. She is also convinced that there is plenty of know-how and brain power in the Norwegian environment.

"All we have to do is to unleash the positive forces, and here the authorities can help. We have found that for every Krone the government spends on research, the industry and the companies spend three."

The research programs Petromaks and Demo2000, which are managed by the Research Council of Norway, will no doubt notice the concentration on petroleum research. Petromaks receives approximately NOK 180 million, an increase of 125 million from last year. Demo2000 will get NOK 50 million, which is an increase of 20 million compared with 2004.

Next deadline for applying for funds:
Petromaks March 1st Demo2000 March 14th
Company: Norwegian Petroleum Directorate more info
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