• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 5 hours The Political Debacle: Brexit delayed
  • 28 mins Trump sells out his base to please Wallstreet and Oil industry
  • 5 hours No Mercy: EU Fines Google $1.7 billion For Abusing Online Ads Market
  • 28 mins 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 7 hours Tidal Power Closer to Commercialisation
  • 10 hours Read: OPEC THREATENED TO KILL US SHALE
  • 5 hours New Rebate For EVs in Canada
  • 9 hours Solar to Become World's Largest Power Source by 2050
  • 8 hours Will Trump Cave Again
  • 16 hours Oil-sands recovery by solvents has started on a trial basis; first loads now shipped.
  • 15 hours Oil stocks are heating up again! What's on your Watchlist?
  • 14 hours Boeing Faces Safety Questions After Second 737 Crash In Five Months
  • 11 hours US-backed coup in Venezuela not so smooth
Big Oil Is Backing Methane Regulation

Big Oil Is Backing Methane Regulation

The oil industry appears to…

Rig-Spotting – A New Tourist Fad

Edda Fides ship

With the oil industry still in the doldrums, some businesses have come to the conclusion that even in such a depression fun could be had. Norwegian company Edda Accommodation, which specializes in housing for oil platform workers, has just completed its maiden rig-spotting cruise.

The tourists who signed up for the trip – all 120 of them – were not allowed to go onboard the platforms for security reasons but they nevertheless were all happy with the experience, according to the Guardian which interviewed some of them. The workers on the platforms were also apparently happy to see some visitors and greeted the cruisers with flares and water canons. One of these was the Troll A platform – one of the biggest and heaviest human-made structures in the world.

The trip lasted four days, and costs between $700 and $3,500. The high-tech vessel Edda Fides took its passengers around three offshore fields in the Norwegian part of the North Sea – Troll, Balder and Ringhorn. Then the tourists were taken further up north.

The hotel manager of the Edda Fides, Björn Erik Julseth, told the Guardian, “There was little activity, so we used our creativity to come up with ideas. We organised this trip in six weeks.” Like many other energy-related industries platform staff accommodation providers have also suffered the consequences of persistently low oil prices.”

Oil is the main source of Norway’s wealth. The price rout from the last two years has shaken up the economy pretty badly – earlier this year, the government was forced to resort to its sovereign wealth fund, worth some US$819 billion, for the first time ever. The fund was set up in better times, in 1996, and is the largest sovereign fund in the world, with investments in 9,000 companies across 75 countries.

Norway has the third-largest public spending portion in the OECD – it accounts for 60 percent of annual GDP and much of it comes from the oil industry.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News