UK and Norway open way for new North Sea projectsNews // October 15, 2004
To maximise the opportunities for North Sea activity and use of infrastructure, both Governments recognise the need to find ways to move projects forward more easily.
Boa and Playfair both have small extensions across the continental shelf boundary - and previously would have been subject of complex agreements between the UK and Norway on how they should be jointly regulated.
However, the innovative approach being taken here for the first time will allowthe fields to be regulated by the State with the majority field interest - considerably simplifying the process of bringing the fields into development.
Commenting on this new milestone in UK/Norwegian co-operation UK Energy Minister Mike O'Brien said: "I am delighted that we have been able to bring forward twotrans-boundary projects in such a pragmatic way. Both the UK and Norway are taking a dynamic approach to ensure that the North Sea potential is maximised."
"Boa and Playfair have emerged as a result of constructive co-operation between UK and Norwegian licensees and Governments. These positive results have been achieved via close dialogue through PILOT-KON-KRAFT, the Government/industry forums which aim tomaximize North Sea investment and activity."
Speaking from Oslo, the Norwegian Energy Minister, Thorhild Widveycommented: "I hope other fields will benefit from similar innovative approaches,as the one taken to progress Boa and Playfair. The current agreement arises from initiatives to reduce barriers and to progress trans-boundary projects, and is a clear demonstration of the benefits that can be obtained through close co-operation. The UKEnergy Minister and I will ensure that our countries continue the positive dialogue so that opportunities can be seized on both sides of theboundary. I hope that we will be able to look at other fields in the future that might be treated in similar ways to Boa and Playfair.