"The development of subsea technology in the 1980s marked the beginning of a modern Norwegian industrial adventure which shaped us as a petroleum nation."
These are the words of Kalmar Ildstad, Director licence management, in a keynote presentation at the Underwater Technology Conference (UTC), a conference focusing on subsea technology.
Ildstad believes that subsea technology will remain entirely crucial in the future, both in order to develop new energy industries and to maintain the high value creation from the oil and gas industry.
In spite of the relatively small size of several of the discoveries on the shelf, they contribute considerable values when the companies use cost-effective development solutions. Subsea technology will be key in achieving this.
More new technology
"Subsea technology has been a tool for good resource utilization on the shelf for 40 years. We want this to continue," Ildstad explains.
The companies invest considerable amounts in research and development annually.
"We expect these investments to lead to the use of more new technology to increase value creation. The industrial adventure marches on!"
