Norway has enjoyed significant exploration success since the Government improved their fiscal policies for exploration in 2002 (APA) and 2005 (Tax). Thanks to a stable regulatory framework and exploration-friendly tax regime, over fifty E&P companies are now present on the NCS, and performance and value creation overall have been good for the NCS. Exploration strategies vary between companies, creating new prospectivity as well as an active transaction market that trade on the mechanics of risk and reward.
Kent Høgseth, co-founder and the Exploration manager of Origo Exploration, is going to address key components in the setup of a small E&P company in his talk at the upcoming Recent Advances in Exploration Technology conference. Kent will describe the relevant phases from creating the business proposal, finding investors, hiring a top team and executing the exploration strategy.
Origo Exploration has recently gone through these phases and this is the story of how it came about. Soon after the formation of Origo Exploration, the oil price declined and the impact is felt across the industry. How will a small exploration company fare in this tumultuous market?
Written by Hans Gebauer, Kent Høgseth