Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/spot_news/statoilhydro-costs-reach-a-sixth-of-norways-budget.shtmlStatoilHydro: "costs" reach a sixth of Norway's budget
Norway's energy champion StatoilHydro on Tuesday said it''s annual shopping in from the wares of the supply chain amount to a sixth of the Norwegian national ...
Norway's energy champion StatoilHydro on Tuesday said it''s annual shopping in from the wares of the supply chain amount to a sixth of the Norwegian national budget, although "relief" from the "cost explosion" is seen due to today's downward cost pressures.
The oil company's leaders said as much at the Offshore Strategy Conference in oil town Stavanger, adding that the new focus on costs was a chance to "improve the quality of projects" by being more selective in their choice.
“We must adjust our activity level,” compamy vice president ofr projects Gunnar Myrebøe was quoted as saying.
“By shifting down a gear and being more selective, we will experience a renaissance in the quality of projects," he said.
StatoilHydro said it was getting "great understanding" from suppliers for focusing on a few great projects.
The conference is an important meeting place for suppliers who encountered "different perspectives" than just a year ago.