Future success depends on the big mature fields

Norway’s petroleum policy has been a great success for government and companies and still production at current levels can be prolonged for another 10-15 years, said Petoro’s CEO Kjell Pedersen at the ONS 2010 conference. He added, however, that for this to happen, production drilling must be stepped up to 2-3 times current rate, and investments need to be made in the upgrading or renewal of the large mature fields. Also he prescribed simpler and cheaper developments of new and smaller fields.