Your Majesty,

Your Excellences,

Honoured Guests,

Ladies and Gentlemen

I will thank our host, the mayor of Stavanger, for arranging this lunch. It must be an exiting week to be mayor of our “oil capital”.

It is important and rewarding that companies from all over the world involved in energy-related activities gather at the same place to seek and render inspiration. The emphasis on technical innovation, product development and environmental technology is fascinating – knowing what it will render concerning value creation and sustainability.

This event also proves that Norway is a leading country in the oil- and gas industry. Norway is indeed an offshore nation, with proud traditions in the maritime sector, fishing and not least related to the exploration and exploitation of petroleum resources during the last 35 years.

Nature has blessed Norway with the resources on our continental shelf. Based on our human capital we have developed a domestic oil industry capable of handling offshore field developments in a harsh climate. Focus on research and development has been important in meeting the challenges offshore Norway, but equally important is the ability and willingness to utilise new technology. The experience from the "North Sea laboratory" has made it possible to develop a world class oil and gas cluster in Norway.

"Energizing a new generation" is the theme for this year's ONS. This fits perfectly into what is on the agenda of the government. Our goal is to maintain the Norwegian oil and gas sector's competitive position and to continue to be a reliable long-term provider of energy to Europe and the rest of the world. Further, the industry based on the activities on the Norwegian Continental Shelf will continue to support welfare and reliable job opportunities.

The average age in the industry is high, but it should in principle not be hard to recruit new people if we take a more proactive approach and tell young people about all the exiting opportunities within this industry. In this context it is exiting that the ONS will spend a whole day presenting the views of young professionals.

ONS provides an excellent opportunity to convey the story about the oil and gas industry – it is forward-looking, long-term and a promoter of sustainable development and indeed – it is a long-term industry as we may have the potential to produce oil for another 50 years and gas for another 100 years.

And on behalf of all the guests, thank you again Mayor for an excellent lunch.