Discover Petroleum, unique exploration technology that will transform hydrocarbon exploration
Discover Petroleum AS was founded in March 2005 by the Stavanger-based oil service company Offshore Resource Group (ORG), the ORG Chairman and ex- Statoil, Saga Petroleum, and ABB Director Jan Wennesland, and the ex-Norsk Hydro/Saga Petroleum Executive Vice-President Lars T. Bjerke.
ORG Holding AS is the major shareholder with 58% of the shares, while 21% are held by management and board. The remaining shares are held by Norwegian institutional and private investors.
The core business idea behind the creation of Discover Petroleum is to capitalize on the companys exclusive access to a unique exploration technology that will transform hydrocarbon exploration, and to take advantage of the NCS business environment that is currently favourable for smaller players and newcomers.
Discover Petroleum shall be recognised as a focused, technology-driven, new generation Norwegian E&P independent, delivering highly competitive value creation by means of the application of advanced innovative technologies for enhanced petroleum exploration and production.
Discover Petroleum shall focus on prospects and fields where our technologies will:
- Increase the probability of finding hydrocarbons
- Reduce exploration and appraisal costs
- Locate smaller and deeper reservoirs
- Reduce environmental impact
- Reduce capital and operating expenditures
These technologies will contribute to resolving the new era challenges facing the NCS, and thus help to realize the full potential of the shelf. Through its foundation and activities, Discover Petroleum further aims to contribute to ensuring renewal and diversity within the Norwegian oil & gas industry
Discover Petroleum Company Tags: Discover Petroleum Tromsų, Norway, exploration and production