unlocking value through closer relationships pilot meeting 24 th september 2002

Unlocking Value Through Closer Relationships PILOT Meeting 24 th September 2002

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Unlocking Value Through Closer Relationships

PILOT Meeting24th September 2002

Norway – 28 August• Joint Ministerial Announcement• Press Conference• Interviews• Industry Roundtable Discussions

UK – 20 September• Workgroup Leader Presentations• Q&A Session

Positive Reaction from Industry and the Media

The Launch

Page 3: Unlocking Value Through Closer Relationships PILOT Meeting 24 th September 2002

Potential Benefits

• $2 billion Prize

• Increased reserves and accelerated development

• Extended field life and life of infrastructure

• Cost reduction

• Safety Improvement

Overall: Increased value of North Sea

Page 4: Unlocking Value Through Closer Relationships PILOT Meeting 24 th September 2002

• New Treaty and Guidelines

• Safety • Infrastructure Improvements • Supply Chain Links

Continued Liaison through

PILOT and KON-KRAFT

Recommendations

Page 5: Unlocking Value Through Closer Relationships PILOT Meeting 24 th September 2002

• PILOT and KON-KRAFT Endorsement

• Establish Implementation Group- facilitate adoption of recommendations- monitor progress

• Form Consultation Groups- support UK & Norway Governments on new treaty- develop Treaty guidelines- support implementation of other recommendations as appropriate- broad industry representation

•And on to Actions…

Next Steps

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