Runi M. Hansen
The
way forward
The full potential of the Arctic can only be unlocked through innovation – more collaborative business models and more joint technology programs. This is the only way to reduce costs and make Arctic projects commercially viable and globally competitive. We believe that Statoil’s approach will make us a strong partner for communities, governments, and our peers. We are building strong partnerships around the Arctic. More of these innovative business models are essential for our industry to explore the potential of the North American frontier in a safe and efficient manner. Even greater collaboration is needed to drive down costs, develop Arctic-specific technologies, and convince our stakeholders and local partners that the industry can respond to emergencies in extreme Arctic conditions.
There is no margin for error. A spill in the Arctic could harm the environment, close the region to development for decades and deny the world an important source of energy. For centuries, the history of the Arctic has been characterized by a cycle of boom and bust – fishing, fur trading, mineral extraction, oil, gas – but this time, it’s different. This time, the emergence of the Arctic has the potential to be one of the defining economic and political issues of the 21st century. Our industry is at the very centre of this issue. The Arctic is a natural arena for collaboration, between nations, industries and peoples. Arctic nations are actively collaborating - on boundaries, on environmental research, and on regulations. We are encouraging this and doing our part.
35