By OGJ editors
HOUSTON, Oct. 7 -- Norway's Ministry of Petroleum and Energy has recommended that the government's 2005 budget include an allocation for petroleum research and development of 222.3 million kroner, compared with the 2004 allocation of 137.5 kroner.
Minister of Petroleum and Energy Thorhild Widvey said, "We work actively to contribute to increase the petroleum production on the Norwegian Continental Shelf, through stimulating higher exploration activity and increased oil recovery. A commitment to research and development within the petroleum sector is a vital element."
Statoil ASA applauded the proposed funding increase, calling it a step in the right direction. Ingve Theodorsen, Statoil vice-president for research and technology, said higher public funding for petroleum research helps ensure future operating success on the NCS.
"Statoil commits about 1 billion kroner/year to research and development," he said.
