Word: ekofisk
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...quiet and staid as ever. Because of Norwegian taxes, a Toyota shipped from Japan costs $9,500, as much as a fully equipped Cadillac in the U.S. Cigarettes are $1.50 a pack, and groceries are double U.S. prices. Don Greenlee, 47, a Texan production superintendent for Phillips at Ekofisk, takes the prices in stride. Says he: "It costs more to live here, but there are not as many things to spend your money on. Financially, we probably make out a bit better...
...celebration." Next month oil should begin moving from Britain's promising Forties field through a 120-mile pipeline to Cruden Bay on Scotland's east coast. Some time during the next few weeks, crude will begin arriving at Teesside, England, through a 220-mile pipeline from the Ekofisk field in Norway's sector of the North Sea. The oil belongs to Norway but is being pumped ashore to Britain; a deep undersea trench has prevented construction of a pipeline from Ekofisk to the Norwegian mainland...
...Norwegian government is trying hard to slow exploitation of its riches. Britain and other oil-hungry nations have drilled more than 330 exploratory wells in the North Sea. Norway has driven only 120-even though Statfjord and part of Ekofisk-two of the richest oilfields-lie under Norwegian waters...
...interest in the profits of British Petroleum, which is 48% owned by the crown. Norway will have to export the oil from its area, since the undersea terrain makes building a pipeline to Norway impossible. Two weeks ago, the Norwegian Parliament approved a proposal to pipe oil from its Ekofisk fields to Britain and gas to Germany. By 1980, sales of North Sea oil could be providing the equivalent of $100 annual income for every Norwegian. The Oslo government is trying to increase the take by insisting on a 50% interest in all drilling operations, and is considering demanding that...
...others face is the sea itself. Production of more than 200,000 bbl. per day will probably require a pipeline. The most likely place to run the line would be to Phillips' refinery at Billingham on the English coast, 220 miles away. Phillips now estimates that developing the Ekofisk field will cost around $500 million, including a pipeline. Further drilling may inflate that price, but Phillips and the eight other oil companies eagerly exploring under the North Sea figure the potential is worth the gamble...