FOR THE GREEN TRANSITION
Leader in marine mineral exploration & production on the NCS
Dramatic increase in
DEMAND FOR MINERALS
The green transition is expected to dramatically increase the demand for numerous key minerals. Low carbon technologies will be key drivers:
- Wind and solar power
- Energy storage
- Electrification of transport
- Buildings, industries and other areas opting for smart solutions
The world is not running out for terrestrial mineral resources, but they come with increasing costs, ethical challenges, risks and environmental footprint.
Marine Minerals will be important for securing sustainable energy supply and geopolitical independence. They are competitive in cost and come with a smaller environmental impact.
A new source
The Norwegian Exclusive Economic Zone (EEZ) includes the Mid Ocean Ridge between Jan Mayen & Svalbard. The low spreading ridges in this area are favorable for hydrothermal venting, and creation of massive sulfides, containing Copper, Cobalt and Rare Earth Minerals (REM).
The extension of the Norwegian continental shelf with the EEZ was approved by the UN in 2009. This puts Norway in a leading position globally. The legislation for Marine Minerals in Norway (2019) builds on the Petroleum law and aims to facilitate the exploration and production of mineral recourses on the Norwegian Continental Shelf (NCS).
An impact study covering extensive areas was launched by the Norwegian Ministry of Oil and Energy in May 2020 . The first license round will follow the completion of the impact study.
Our approach to
Mining for Marine Minerals faces similar challenges as those related to deepwater Oil & Gas activities. A crossover from O&G, in terms of environmental aspects, technology, methodology and operational experience, has thus the potential to unlock the great potential within Marine Minerals.
Norwegian companies have paved the way internationally within offshore exploration and appraisal technology, such as seismic surveys, EM, advanced drilling and autonomous underwater vehicles (AUV). These proven and familiar technologies are part of our approach towards mapping and quantifying the resources.
Norway has a unique opportunity to become a leader within Marine Minerals, building on experience and competences from the oil & gas sector, focusing on a prudent environmental approach.
Our approach to
Norway has for decades been in the forefront of introducing groundbreaking technologies regarding subsea production systems for oil and gas. Deepwater, drilling, robotics, subsea processing, controls and monitoring are all cross-over technologies from subsea production systems that can be directly applied for Marine Minerals.
Norway has also a proud history and competitive edge within floating production systems, with fifty years of experience from building and operating floating oil and gas installations.