Many of the challenges and opportunities we have encountered on the Norwegian and Russian sides of the Barents Sea are also present in our Canadian operations, even though these areas do not fall within the strict geographical definition of the Arctic.
We have interests in two oil producers, Hibernia and Terra Nova, on the Grand Banks about 350 kilometres off Newfoundland. We are also a partner in the Hebron oil field, which is now in line for development.
As operator for a total of four exploration licences, we are planning both three-dimensional seismic surveys and exploration drilling during 2008 in this harsh-weather part of the North Atlantic. The Canadian authorities set very stringent standards for safety and environmental protection in these activities. We comply with these requirements by drawing on our experience from the NCS and from more than a decade of involvement in Canada.
The challenges we meet here – not only operational, but also relating to climate measures and employee health and safety – are very similar to those encountered in Arctic regions. The weather is cold and stormy, and structures must be able to withstand collisions with icebergs or to move at short notice.
To reduce the likelihood of collisions, operators in these waters have established a common monitoring and response system. We participate in this collaboration, and our experience from it will be useful when operating in other iceberg-infested waters.
