Norway pushes the oil recovery envelope ///

It’s been a tough period of adjustment for the Norwegian E&P sector, since oil prices began to tumble nearly a year ago. Operators, associations and governmental officials were already worried about the high cost structure of Norway’s upstream projects, well before the oil price crisis. Accordingly, company executives and officials already had launched a cooperative effort, to see what could be done to lower the costs of equipment and services, find ways to save time, and increase operating efficiencies across the board. Included in the latter item, efficiencies, is an effort by Statoil to wring more profit out of existing assets by improving the overall oil recovery rate.

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