Statoil finds the way to be profitable at $25 per barrel

Statoil, the Norwegian energy giant, has developed a project to make profitable the huge investment in the Johan Sverdrup field in the North Sea, even if the price of a barrel of oil falls to $ 25,  "The situation we've been in for the last two years, where we need to find smarter solutions, spurs creativity," Mr. Nylund, Statoil's head of Norwegian operations, told The Wall Street Journal. The plan is followed with great attention by the domestic energy that is trying to adapt to the low prices of crude oil.  In short, it is the traditional manufacturers to launch the competitive challenge in the alternative ones.

Norway will work on difficult marine oil platforms and expensive to install and manage. But in the meantime, the companies have started cutting costs, to focus on incremental improvements in technology, that of gradual progress, without resorting to magic wands. They have done their part also the renegotiation of contracts with suppliers of engineering.

"We are now seeing the results of good cooperation between Statoil, its partners and suppliers. We are strongly reducing investment costs, and we are increasing the process capacity, resource estimate and value of the field. Johan Sverdrup is a world-class project, and we want to create high value for the owners and society for generations,” says Eldar Sætre, CEO of Statoil.