neo October 14, 2016 No Comments

Another successful event has taken place at 11 October 2016 in Four Seasons hotel in the presence of 100 members and guests of the Norwegian Business Association in Cyprus (NBAC) and the Cyprus International Business Association (CIBA), joint organizers of the event. Guest speaker was Tim Dodson, Executive Vice President Exploration of Statoil, who presented on Statoil – a major supplier of gas to Europe”. Statoil is one of the bidders in the third offshore licensing round for the Block 10 along with ENI, Total and ExxonMobil/Qatar Petroleum (QP).

The event opened with an introductory speech from Jens Andreas Wilhelmsen, Chairman of NBAC, and Chris Koufaris, General Secretary of CIBA. The two gentlemen thanked Tim Dodson for accepting the invitation and wished Statoil every success with its bid in the third offshore licensing round.

In his presentation, Tim Dodson gave a brief introduction about Statoil and highlighted the leading position of the company in conducting sustainable and transparent business based on highly ethical values. Tim elaborated on some of the major projects undertaken by Statoil with the Subsea Factory being the highlight – an innovative concept and a game changer for the oil and gas industry.

On the Eastern Mediterranean gas, Tim stressed out the potential of Cyprus for large resources in its Exclusive Economic Zone as well as the importance of proximity to the European gas market and the multiple market options. On an another note, Tim emphasized the similarities of the Cyprus case with Norwegian case when Norway was at its initial stages of the oil exploration.

The event closed with questions from attendees and a cocktail.

NBAC would like to thank its members and guests for their attendance and contribution as well as CIBA for the excellent cooperation in organising this event and making it a great success.

The full presentation of Tim Dodson: Statoil Presentation Cyprus _ October 2016