The Exploration Innovation Prize will be awarded to a person, a team or a company that – during the last two years – has given a significant contribution to boost the success ratio on the NCS.
It is no secret that 2016 and 2017 have been bad years for exploration on the NCS.
Who is to blame?
My favourite quote is this: “It’s about time for the good explorationist to come out of the closet!” Or, phrased differently: “It’s about time for the excellent innovators to come out of the closet!”
Exploration for oil and gas has to do with 1) geological thinking, based on knowledge and experience, and 2) using technology in order to define prospects and reduce risk.
For this reason, the programme committee for NCS Exploration 2018 – Recent Discoveries now introduces The Exploration Innovation Prize.
The prize is awarded a license group, company, team or person who during the last two years have given a courageous and innovative contribution in exploration for oil and gas on the Norwegian continental shelf. The recipient has matured and drilled a prospect that can be defined as high risk and high potential. The prospect must have been drilled, but can be classified as dry, technical discovery or commercial discovery.