* All pictures taken by Jon Skille Amundsen, jon@fotografgjengen.no
The winner: Gro Harlem Brundtland
Jarand Rystad, Rystad Energy; Gro Harlem Brundtland; Terje Søviknes, Norway’s Minister of Petroleum and Energy; Helge Keilen, Offshore Media Group
Jury’s Reasoning:
This year’s winner is the person that during the petroleum history of Norway has spent most hours at “the end of the table”, actually more than 10 years. From this top position, the winner has taken petroleum policy decisions from a holistic perspective with the purpose of maximizing societal wealth creation. This is a balancing act; stimulating entrepreneurship and private capital versus maximizing state income, support local industry versus attract international competence; influencing business cycles versus letting the market fix it; focus on a strong Statoil versus stimulate diversity; and finally foster sustainability versus short term profit.
The winner has successfully managed this balancing act through three periods, seeking compromises and avoiding conflicts, securing stable conditions. Regarding sustainability, she has been a true global leader. It is actually difficult to hear the word without thinking about her. The Syse government had proposed CO2 taxes for all industries except for petroleum for 1991. When she took over in November 1990, she introduced, against the industry’s wishes, the CO2 tax also for the oil and gas sector, with immediate impact. Generators changed practice and Sleipner CO2 was injected. The result has been that the Norwegian shelf has achieved the lowest greenhouse gas emissions globally; which is a competitive differentiator for the Norwegian petroleum sector.
Explorer of the Year
The four nominees: Aker BP, Cairn Energy, Lundin Norway, Statoil
The winner: Lundin Norway
Sidsel Lindsø, Explorcrowd; Halvor Jahre, Lundin Norway; Sonia Passos Mlada, Rystad Energy
Jury’s Reasoning:
2017 was another year with exploration results far below expectations, both globally and on the Norwegian Continental Shelf. Despite 20% less resources discovered than in 2016, exploration is still likely to have generated value on the NCS due to infrastructure-led exploration. When evaluating the candidates for this award, the jury looked for companies that demonstrated their belief in continued exploration on the NCS. Those who kept up the activity level, positioned themselves for exploration success in the future, while focusing on their strongest asset: their people.
The winner of the award has continued its long-term strategy to create an environment that encourages new ideas.
The company understands that exploration requires the right resources at the right time, so they took steps to grow their exploration team while also growing their acreage positions in a controlled manner.
The jury was impressed by the technological advancements the winner implemented within data acquisition, particularly the TopSeis technology which provides 6 times more data than conventional seismic and can shorten the time between identifying a prospect and drilling an exploration well.
Last but not least, the winning company operates the Filicudi discovery, which could have the potential for cracking the code for more underexplored plays on the NCS.
With this award, the jury wishes to acknowledge the stamina of staying with their long term strategy.
Business Developer of the Year
The four nominees: Aker BP, CapeOmega, Pandion Energy, Point Resources
The winner: Aker BP
Einar Semb; Joachim Bjørni, Karl Ludvig Heskestad, Lars Kristian Kildahl, Aker BP; Håvar Blakset, Rystad Energy
Jury’s reasoning:
2017 was yet another year of high business development activity. When several companies exited the NCS or restructured their portfolios, others saw the opportunity to grow. The four nominees have shown the ability to seize these opportunities to strategically position themselves on the Norwegian Continental Shelf.
This year’s winner has demonstrated a remarkable ability to further increase its presence on the NCS, through impressive portfolio management and business development efforts.
The company continues to impress by unlocking value often overseen by the market, which is reflected in its stock price development. The winner displays endurance in deal execution, and through this year’s high-profile acquisition the company has taken yet another step towards becoming the second-largest operator on the NCS.
Project Developer of the Year
The four nominees: Statoil (Gina Krog), Statoil (Oseberg WF), Statoil (Polarled), Wintershall (Maria)
The winner: Wintershall (Maria)
Simon Sjøtun, Rystad Energy; Alv Solheim, Jens Balmer, Thomas Mellemstrand, Elling Brubak, Wintershall; Arne Erichsen APC AS
Jury’s reasoning:
2017 was a very busy year for several project developers. Seven fields came on-stream and 14 PDOs were either approved or submitted during the year. The giant Johan Sverdrup project reached its most intensive period ahead of production start in late 2019. Also infrastructure has seen major developments completed with the record breaking Polarled project and the Nyhamna expansion project.
The winner has nevertheless proved what was believed to be nearly impossible in the 100 USD/bbl era: To deliver a project ahead of schedule and below budget, both contributing to high value creation. The project also exemplifies how re-utilizing infrastructure is quintessential to best possible value creation on the NCS. The Project Developer has come to commercial agreements that draw on resources from three different hosts. At the same time the cooperation has also been stellar with the hosts’ operator, which was essential to enable the accelerated start up and low cost. Both achievements are examples to be followed.
Field Operator of the Year
The four nominees: Aker BP (Alvheim), ConocoPhillips (Ekofisk), ConocoPhillips (Eldfisk), Statoil (Grane)
The winner: ConocoPhillips (Ekofisk)
Arne Gulbrandsen, Rystad Energy; Jan Arne Johansen, Stig Kvendseth, Jan Øyvind Sangedal, Kurt Fredheim, Conoco Phillips; Ståle Kyllingstad, IKM
Jury’s reasoning:
The operator continued a strong 2016 with an even more impressive 2017; increasing production and activity levels while at the same implementing successful cost improvement measures.
The winner has demonstrated high production efficiency for a long period of time and an excellent HSE standard. Through the years, the operator has dealt and succeeded with challenging chalk reservoirs in PL018, showing continuous innovation and ambition.
The winner has also demonstrated an impressive carbon footprint reduction above 60% from 1995 to 2017. Extremely impressive for the oldest field on the NCS.
New Venture of the Year
The four nominees: Ace Oil Tools, Fuglesangs Subsea, Halfwave, Vision iO
The winner: Vision iO
Alexandra Bech Gjørv, SINTEF; Rolf Gregor Skaar, Andre Hognestad, Vision iO; Jo Husebye, Rystad Energy
Jury’s reasoning:
2017 was still a tough year for the industry, and new ventures are especially vulnerable. Many new ventures have struggled to grow or even maintain their activity levels in 2017.
The New Venture of the Year, has, just like us in Rystad Energy, worked to create transparency in the oil and gas industry. They have already delivered their offering across the globe, through scalable partnership with major service providers. And with advanced technology, they have provided information with surgical precision in remote and harsh environments.
Globetrotter of the Year
The four nominees: Autronica Fire and Security, Høegh LNG, Resman, Tampnet
The winner: Resman
Werner Karlsson, NORWEP; Torgar Skillingstad, RESMAN; Gitte Bromander, Rystad Energy
Jury’s reasoning:
The recent downturn has been tough on most oil service companies set to expand their business abroad. However, brilliant products and hard work have allowed some globetrotters to both maintain and strengthen their position outside Norway.
The nominees have all shown persistence and strong performance in impressive ways, following very different strategies. And they are well positioned for continued success.
The Globetrotter of the year: Has a history of strong and profitable growth. They Systematically developed and strengthened it’s geographic footprint, creating alliances and corporate agreements, setting the organization up for further growth in the years to come. Most importantly – The Globetrotter of the year has helped operators in more than 30 countries understand their reservoirs, and to produce less of what the petroleum industry produces the most of – water!
Business Success of the Year
The four nominees: Beerenberg, Mento, Subsea 7, Sverdrup Steel
The winner: Beerenberg
Per-Ola Baalerud, Norvestor; Morten Walde, Ingrid Sara Grimstad Amundsgård, Beerenberg; Erik Reiso, Rystad Energy
Jury’s reasoning:
The winner of the Gullkronen 2018 Business Success award is among the industry’s foremost examples that even in the event of unparalleled market turmoil, it is possible to weather the storm to retain size and value creation. The winner also shows how superior performance through strong focus on development and application of new technology in a segment generally considered “low tech”, leads to market share capture and stable margins, while peers have all fallen into red ink.
The winner continues to perform well above expectations with third quarter 2017 as the strongest on record and improving market conditions going into 2018.
Recognition of this impressive performance is long overdue.
The four nominees: Aker BP, Eidesvik, Statoil, Total
The winner: Statoil
Hildegunn Blindheim, Norsk Olje&Gass; Frida Ekløf Monstad, Bjørn Ove Jansen, Knut S.Helland, Christopher Lie Andersen, Statoil; Marius Kluge Foss, Rystad Energy
Jury’s reasoning:
The winner is widely considered a sustainability leader in the oil and gas industry.
The company’s emission intensity has improved in recent years as a result of hundreds of energy improvement measures in flaring, production processes, gas compression and gas turbines.
But what’s considered to be the most impressive accomplishment is the culture the company has developed where all departments contribute to develop more sustainable production processes. The winner’s approach to reduce emissions is deeply anchored in the top management of the company and efforts to reduce their carbon footprint covers the entire organization.
The winner’s climate strategy and environmental goals for the future prove that the company is committed to stay in the forefront in the race to develop the world’s most carbon-efficient barrels.