Norway is well represented at meetings in St. John’s Newfoundland this week. Politcal and business leaders from the Nordic country of five million, are in Newfoundland to secure ongoing and future contracts in the Altantic province’s promising oil and gas industry.
“One of the next petroleum provinces”
“It shows they see us as one of the next petroleum provinces. So despite some of the gloom and doom of recent days, I think what this shows is that our potential is bright and we’re a market the Norwegians are very, very focused on,” said Bob Cadigan, president and CEO of the Newfoundland and Labrador Oil and Gas Industries Association, or NOIA.
INSTOK, an association of Norway’s 2500 companies involved in the offshore sector, hosted a seminar today selling the benefits of partnerships with these companies.
While the current reality of lay-offs, curtailed spending and projects postponed hung over the gatherings, the goal is to be ready when the industry eventually rebounds
“I believe that Norwegian companies, teaming up with Canadian partners, will bring out the best from both sides of the Atlantic, to the benefit of the companies as well as the local communities,” Tord Lien, Norway’s minister of petroleum and energy, said to the roughly 120 delegates this morning.
Norwegian companies are world leaders at working in harsh and environmentally sensitive locations. They have been producing oil from their continental shelf for a 50 years,
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