U.S. and Norway Enter Offshore Energy Partnership

Source: www.gulfoilandgas.com 8/18/2020, Location: North America

The U.S. Department of the Interior formalized its partnership with the Ministry of Petroleum and Energy of the Kingdom of Norway to strengthen cooperation in offshore mineral, oil and gas, and wind energy activities. Deputy Secretary of the Interior Katharine MacGregor and Norwegian Ambassador to the U.S. Kåre R. Aas signed a Memorandum of Understanding (MOU) during a ceremony in Washington, DC.

“The Trump Administration is committed to ensuring our nation is in a position of strength when it comes to domestic energy production, to provide jobs, power our economy, and provide affordable energy for American families and businesses,” said Interior Deputy Secretary Kate MacGregor. “We appreciate this opportunity to highlight our strong relationship with Norway and our continuing investment in safe and responsible offshore energy development.”

Activities outlined in the MOU framework include the exchange of scientific and technical information, and cooperation regarding research and development technologies. Interior and Norway will remain in regular contact and foster discussion of experiences, best practices, policy and regulatory initiatives relevant to the development of offshore resources.

“The MOU signed today will further strengthen the longstanding energy partnership between our two countries. I’m convinced that sharing of best practices and experience will be mutually beneficial, and contribute to sustainable resource management,” said State Secretary in the Norwegian Ministry of Petroleum and Energy Tony Christian Tiller.

The U.S. and Norway are two of the world’s largest offshore oil and gas producers and have decades of experience to draw upon in expanding discussions on oil and gas best practices. Both countries are interested in discussing strategies for identifying and inventorying new supplies of marine mineral resources of commercial or economic interest. Discussing offshore wind is also a priority, particularly as it pertains to floating wind technology.

Since 2017, Interior has conducted two offshore wind leases sales totaling approximately $414 million in bonus bids, seven offshore oil and gas leases totaling approximately $1 billion, and executed seven offshore mineral agreements.

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