Rúni M. Hansen is Vice President & Head of Statoil‘s Arctic Unit, Norway.
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Commentary
Future Prospects for Petroleum Development in the
Arctic
Rúni M. Hansen
It has been an interesting few years for our industry and interests in the Arctic. Many deals have
been done, new areas have been opened and discoveries have been made. The whole industry is
positioning itself for the future. We are dealing with complex regulatory and stakeholder concerns.
We are driving technology to enable us to develop Arctic resources, safely and economically. At the
same time we see that development is going slower many would have thought only a short time ago.
And this might be a good thing.
The world's eyes are on the Arctic region - a region that signifies large opportunities and resources,
but is also a unique and harsh operating environment.
The Arctic is also a region that ranges from ice-bound areas, to ice-free areas such as the southern
Barents Sea. It's not a question about one-size fits all, not for our industry and not for the
communities within the Arctic.
Our task is to carry out our operations in collaboration with industry, government, regulators, and
not least the communities our activity affects – providing shared value. But we in industry must not
mistake legal permissions for permanent access. In a new frontier, access must be earned – again and
again.
This is no easy task, and the Arctic poses specific challenges with regards to distance, weather,
logistics, environmental stewardship and technology needs. Our strategy is to approach this in a
stepwise manner – learning from each step and taking that experience with us when we plan future
operations. But why be there at all, one might ask?