ONS: Intsok must be supplemented

Up to now, large portions of the Norwegian oil industry have been geared to the Norwegian continental shelf. If, however, Norwegian industry is to maintain its expertise and continue to develop, it must lift its gaze towards other countries’ shelves. Norwegian industry must be internationalised. Intsok is a very important took with which to achieve precisely this.

More than 70 companies have got together to market themselves internationally. Some will enjoy a big payoff from this, others a smaller one. The most important thing is that they have been given a common tool. The challenge is great, because the developments on the Norwegian continental shelf have an international reputation as extremely high-quality but also extremely expensive.

Our task now, therefore, is to prove that Norwegian industry is competitive. The Intsok partnership must therefore be extended to embrace development concepts and financing, so that technology developed for Norwegian conditions can be adapted to local conditions in the Gulf of Mexico, and the waters off Brazil, West Africa and Iran. Norway’s commercial banks are world leaders with long experience in financing of shipping, and this experience should benefit he oil industry too. The commercial banks should soon see the opportunity Intsok offers.