The Norwegian continental shelf is awash with “optimism” as the biennial ONS rolls into Stavanger.
Leif Johan Sevland, chief executive of the foundation which organises the event, said new project sanctions were on the cards and that expectations were high for exploration in the Barents Sea.
Mr Sevland, who was mayor of Stavanger from 1995 to 2011, said investment in the oil industry in Norway was “on the way up”.
But Mr Sevland, head of the Offshore Northern Seas (ONS) Foundation since 2012, said increasing levels of activity on the NCS meant more people would be needed.
After several years of redundancies, filling vacant posts might not be straightforward as some workers choose to stay away from the sector, while fewer Norwegian students are focusing on
traditional disciplines.
It means that with unemployment rates decreasing, there is the question of how companies are going to find resources.
Earlier this month, a number of Norwegian media outlets reported labour shortages in the oil sector, though industry experts were quoted as saying the situation was not yet critical.
The reports also said Norwegian companies were increasingly looking to recruit from overseas to alleviate the strain.
The approach could create opportunities for workers in Aberdeen who have struggled to find opportunities in the UK North Sea.
Mr Sevland acknowledged Norway still had challenges to overcome because of the severity of the downturn.
ONS’ organisers are confident new projects won’t be delayed by a lack of workers, as there is still sufficient capacity to cope.
Mr Sevland said industry needed to “work in a different way” and make young people “proud” to work in the energy industry.
That will be one of the aims of ONS.
“The tools are being dusted off,” Mr Sevland said. “It might be a challenge but we have a focus on young people. The main reason is to address challenges with competency and make sure there is a constant flow of talent.
“We want to make sure the energy industry is attractive to young people. At ONS 2016, it was not easy to get sponsors for our recruit young people venue.
“Companies were worried about sending signals that could be interpreted as them saying they were ready to hire.
“This year there has been more expansive interest from companies. It’s very different.”
There is also more diversity on the NCS compared to two years ago, Mr Sevland said.
“The majors are still there, but there are also new E&P companies coming in and they need more people. Eni and Point Resources are creating Var Energi, but it won’t be ready until the new year.
It is an interesting model and it won’t be the last surprise. We will see more innovative models coming up. In the Barents, we hope to know more soon about the potential – there has been a lot of Barents drilling activity this summer.
“In the supply chain, we are used to consolidation. That’s how it works and people expect there will be more to come. We expected more in 2016-17 but it didn’t happen. There was too big a valuation gap between buyer and seller, but now people have more confidence in the market.”
Mr Sevland said he is “feeling good” and is looking forward to welcoming around 65,000 visitors to ONS.
More than 600 speakers have been signed up and 1,241 organisations will be exhibiting.
“We are ready and waiting for guests,” Mr Sevland said. “Two years ago was the second biggest ONS. Even if activity was low, the atmosphere was good. There is a lot of optimism about the NCS.”
ONS will kick off with a star-studded opening ceremony on August 27. Participants include the Crown Prince of Norway, Equinor chief executive Eldar Saetre, and Total chief executive Patrick Pouyanne.
General Michael Hayden, former director of the Central Intelligence Agency and the National Security Agency, will also speak at the show.
This year’s theme is innovation. ONS will cover various topics, including low carbon energy generation, cyber security and attracting young people to the oil sector.
The show will welcome a large Scottish contingent, with around 30 companies expected to be represented on the Scotland Pavilion.
Mr Sevland said there were abundant opportunities for Scottish companies in Norway across a range of sectors.
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