Norwegian Oil & Gas experts participate in the Basque Energy Cluster Work Group

Submitted by Jose Hormaeche on 05 December 2016

On 24 November, experts from the companies Aker Solutions, Advanced Petroleum Consultants, the Hispanic-Norwegian Chamber of Commerce and Vicinay Marine, presented the business opportunities and characteristics of the Norwegian Oil&Gas market. During that week, they also had the chance to get to know first hand some benchmark companies in the Basque Country.

The Work Group session focused on the Oil&Gas market in Norway, a benchmark in the sector, with an economy that is highly-dependent on the offshore oil and gas sector, which supposes 23% of the GDP and 29% of overall investments, accounting for 27% of the state's income and 46% of total exports. A market that, despite a recent period of economic contraction, points towards a progressive recovery that is expected to go hand-in-hand with significant opportunities for companies.

During the meeting, the speakers presented the current market situation, its main actors, requirements and entrance barriers, collaboration levels and relevant aspects to access this market, all of which is accompanied by the singular vision of the personal experience at each of their organisations.

Additionally, during the week, international experts had the opportunity to visit the facilities and hold meetings to exchange their experiences with the main Basque companies of the sector such as AMPO, ERREKA, TUBACEX, TUBOS REUNIDOS, ULMA PIPING and VICINAY MARINE. After the visit, the participants shared that the experience has confirmed the good image that Norway has of Basque companies, and shared their surprise on the global dimension of their value chain, which they consider that has the potential to become positioned in new business opportunities in the subsea sector and in the deployment in Arctic areas.

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