Largest allocation to petroleum projects in a decade

The Research Council of Norway’s Large-scale Programme for Petroleum Research (PETROMAKS2) recently awarded NOK 275 million in funding to 40 new research projects.

Twenty-three of the 40 grants are Knowledge-building Projects for Industry or Researcher Projects, while 13 are Innovation Projects for the Industrial Sector. The remaining four are Research Institution-based Strategic Projects to strengthen Norwegian-Brazilian cooperation on petroleum research.

The bulk of this funding has been allocated to projects addressing major challenges in the petroleum industry such as the need to reduce costs, develop technological solutions for increased recovery and improve preparedness as Norwegian petroleum activities advance into the Arctic.

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