Energy deep thinker - DNV

A role to playThe oil and gas industry is facing increasing expectations from a multitude ofstakeholders. In the public domain, zero tolerance of failure is a reality. Consistent,transparent and predictable operation is expected from this industry.Two areas of growing concern and complexity add tothe challenges: future field developments in Arcticareas and aging installations. In both of these areasDNV has a role to play.ARCTIC AREASTo meet the world’s increasing energy demand, oiland gas must be produced in new geographical areas.The industry is now heading into the Arctic. There theoil companies will produce oil and gas under demandingconditions, and they must do so safely.How can the industry manage the risks involved inthis? What is necessary to succeed in these new areas?DNV has long experience of technology qualification,verification and certification related to the offshoresector. Many of our offshore standards have becomereference standards for international engineering andoil companies. Russian energy major Gazprom, in fact,adopted our offshore standard as its corporate standard.The offshore standard has also been used, forinstance, for the Kizomba field off Angola and forfields off the coast of Brazil.We will continue developing existing and newstandards to be at the forefront when it comes totechnology for ensuring safe operations.AGING INSTALLATIONSWhile the oil companies are investing in new geographicalareas, they also have to pay attention totheir existing installations. Many installations aroundthe world have exceeded their initially defined lifetimes.Not all of these have been particularly well maintainedover the years. Efforts are necessary to makeaging installations safe and as efficient as possible.The technical standard of old facilities is becominga key issue for the industry. We are cooperating withenergy companies to raise the standard of their aginginstallations, offering assistance ranging from assetintegrity management and support to due diligenceservices.The combination of our extensive technological knowhowand risk-based principles is helping the industryto develop sound risk-management strategies andappropriate measures to mitigate risk and ensure thequality, safety and environmental performance of theiroperations.MIKLOS KONKOLY-THEGEPresident and Chief Executive OfficerDNV Forum 02 20051