Work Package 6‎ > ‎

Task 6.2

Optimal oil and gas exploitation under uncertainties regarding price, weather and ice conditions and policy change

Task leader: Knut Heen (UoT)

Oil and gas exploitation faces market uncertainties influenced by climatic change and technological development. This industry also has to cope with uncertainties related to the environmental conditions in the Arctic region. Exploitation pattern while optimising economic benefits given different risk regimes will be carried out as a part of WP6. This task will also address the issue of how petroleum development will be affected by concerns for fisheries and the environment in general: being a significant contributor to the emission of climate gases, the petroleum industry can expect significant restrictions on its future activity. In the Barents Sea, this is affected through the adaptive management plan already in place.