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That is the most optimistic estimate in a new Rystad Energy report on excavation of offshore minerals on the Norwegian Continental Shelf (NCS).

“We are looking to provide minerals for the green transition by utilizing the technology and competence from the Norwegian oil and gas industry,” says Anniken Hauglie, CEO of the Norwegian Oil and Gas Association.

A successful transition to the low-carbon society depends upon the availability of certain minerals, such as copper, cobalt, zinc and several rare earth minerals. Without these minerals, the transition from molecules to electrons – that is from fossil fuels to renewable energy – will come to a halt.

“The onshore deposits of these minerals will be exhausted at some point, which is why we need to turn our attention to offshore deposits. Norway is likely to have viable resources on the Norwegian Continental Shelf, but this remains to be further explored,” says Lars Eirik Nicolaisen, Senior Partner at Rystad Energy.

His report shows that Norway can draw on 50 years of experience from the oil and gas industry.

“The transfer of knowledge from oil and gas to marine minerals is extensive in areas such as exploration, subsea, topside, drilling, and competence on corrosion and harsh weather. We already know how to operate and make a profit in the ocean space. And we are likely to find the resources on the NCS which will enable us to build a profitable and important industry for the transition to a low-carbon society,” says Nicolaisen.

Minister of Petroleum and Energy, Tina Bru, received the report with great interest.

“We are moving fast to open areas for exploration. We are eager so accommodate risk capital, private companies and smart entrepreneurs willing to create new jobs within the field of marine minerals,” says Bru.

The Rystad report was commissioned by GCE NODE, GCE Ocean Technology, Blue Maritime Cluster, The Norwegian Oil and Gas Association, Aker, Loke Marine Minerals and The Norwegian Forum for Marine Minerals.

“We see a great potential for GCE NODE companies to take part in this industry. We have the competence and technology necessary to succeed in this market,” says Tom Fidjeland, CEO of GCE NODE.

“I would absolutely recommend management teams to join this program. Our experience is that it was well worth the time and effort,” says Martin Albrektsen, Supply Chain Manager at Scanmatic.

Last Winter, Scanmatic took part in the GCE NODE program designed to further develop small and medium-sized cluster companies.

“We came out of the program with a great tool for identifying and implementing improvements in our organization. It was especially useful to have someone take a look at us from the outside,” says Albrektsen.

In two identical seminars on November 26 and December 3, GCE NODE will present the various modules that make up the entire program, that is the Flourishing Business Canvas, the Maturity Survey, Quick Wins, Deep Dive and the Business Development Lab.

More than 40 companies have participated in one or more modules so far.

“We look forward to exploring possibilities with even more companies,” says Egil Norman Olsen and Harald Holt, who will talk more about the program during the one-hour webinar.

Dates – select the date that suits you better:

• November 26 at 14:00-15:00 hours
• December 3 at 09:00-10:00 hours

Cost: The webinar is free for companies in GCE NODE and Maritime Forum South.

Language: Norwegian

“There is a pattern of increased accountability which presents a major concern for management teams and CEOs. In the very near future, negligence in cybersecurity could put you in jail,” says Piet Delport, Assistant Professor at Noroff University College.

He provided a recent and shocking example: In September, German police opened a homicide investigation after a woman died during a ransomware attack. The ransomware reportedly invaded 30 servers at Düsseldorf University Hospital, crashing systems and forcing the hospital to turn away emergency patients.

As a result, a woman in a life-threatening condition was sent to a hospital 30 kilometers away and died from treatment delays. German prosecutors are investigating possible manslaughter charges against the cybercriminals.

Since the hackers took advantage of a well-known vulnerability, which Germany’s national cyber-security authorities say they warned about as early as January, it is speculated that hospital management could also be held responsible.

“We will soon see a new standard of accountability. CEOs might end up in jail due to negligent homicide as a result of inadequate IT security measures. This new risk will hopefully drive information security strategies,” says Dietport.

He continued:

“In 2002, the Sarbanes-Oxley Act came as a result of mismanagement in large accounting firms. In 2018, GDPR was introduced to focus on data subjects rights. So what is next? Increased accountability for cyberattacks that could have been prevented,” says Dietport.

His talk at the online cyber security conference Security Talks 2020 Tuesday, was titled IT security, how concerned should I be? Without offering a direct response, Dietport’s left a clear impression that the answer could be summarized in one word:

Very.