Oil & Gas R&D – A Renewed Commitment
Research and development in the oil and gas industry has a simple goal: increasing recovery. Given the size of the deposits on the Norwegian continental shelf (NCS), even a small boost to recovery can mean a huge difference to the nation’s economy. A mere one-percent increase in the recovery rate on the NCS would have a value of approximately NOK 500 billion. With this in mind, the public sector has announced a renewed commitment towards funding the development of cutting-edge Norwegian technology designed to meet the needs of the oil and gas industry.
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