As president and EVP Development and Production USA for Statoil, Reitan has significant cost improvements to show for in his organization.
“When oil prices were at 90 dollars per barrel, the operations in the US were unable to send cash home to Norway. Now, at 50 dollars per barrel, we are able to contribute with a profit. We have improved performance excellence tremendously,” says Reitan.
As an example, Reitan showed how onshore drilling time has been reduced from 27 to 11 days per well.
“Statoil’s US innovations are now enhancing operations in the North Sea. Keys to our success are integration and collaboration throughout Statoil and also with our partners,” says Reitan.
Arnt Aske, Business Development Digitalization at GCE NODE, was pleased to meet with and catch Reitan’s presentation at an OTC event in Houston this week.
“Reitan’s message fits extremely well with the goals of the Data Highway Project, which both Statoil and GCE NODE is part of. Digitalization will help the industry further reduce cost,” says Aske.