The document discusses opportunities for increased collaboration between the Finnish and Norwegian offshore industries. It notes that Norway currently forms the world's largest offshore market and that Finland has technological expertise and experience operating in Arctic conditions that could be valuable. However, restrictive EU and Norwegian measures limit cooperation with Russia, which has even greater untapped offshore potential, especially in the Arctic. The document argues Finnish maritime companies should seek partnerships now to better position themselves for future opportunities as restrictions change or are lifted.

1. MORE COLLABORATION
TO CAPTURE FUTURE OPPORTUNITIES
Bjørn Gundersen
Pori, June 10th, 2015

2. • Finnish Offshore Industry
• The Norwegian Petroleum Cluster Evolution
• Huge Potential ofThe Russian Continental Shelf
• UnlockingThe Russian Arctic Potential – a Massive Challenge
• Restrictive Measures in Force – EU/Norway
• Historical and Future Oil Prices
• Finnish Maritime Industries
• Position for Future Now – Before It’sToo Late

3. 
It is only natural that the Finnish offshore industry
turns its eyes to Norway:The Norwegian
continental shelf forms currently the world's
biggest offshore market.
I am convinced that there is room for Finnish know-
how in this market. In many ways our two countries
form a "match made in heaven":
Finland has a lot to offer when it comes to
knowledge needed in the Arctic conditions, our
technological competence, highly educated work
force, and our ability to perform and deliver

Maimo Henriksson, Ambassador of Finland to the Kingdom of Norway
MaimoHenriksson,AmbassadorofFinland:
(Source: Prizztech/The FinnishOffshore Industry, 2014 )

4. SettingtheCourseforWorldMarkets
(Source: Prizztech/FinOffshore Directory, february 2015)
Finnish maritime industry is grounded
on strong tradition. Finns are known
globally for skills in shipbuilding and the
production of marine engines, propulsion
systems, specialized integrated solutions
andArctic know-how.These products
and services are provided by a group
of core companies – global players in
their segments.
The Finnish offshore industry comprises of approximately 150
active companies.The total exports of the industry in 2014
amounted to 1.7 billion euros, technology being the most
important of the industry’s segments. If it is needed reliable
partners on shore or offshore, Finland offers a competitive
option. Our companies are known for their high level of
technological knowhow and uncompromising commitment to
safety, the environment and quality
JanVapaavuori
Minister of Economic Affairs
The strengths of the Finnish offshore
companies are high Nordic quality
standards, timely deliveries, the Nordic
network and cost effectiveness.
The offshore industry employs some five
thousand people in Finland, one in four of
the whole marine industry.
The main focus of Finnish marine industry research remains to
be offshore andArctic technologies together with luxury
cruisers. Remote operations and user experience are one of
the emerging fields of the development. Also operations in the
harsh and demanding arctic conditions, and for example the
winterization challenges, remain to be among the main
research topics.
Merja Salmi-Lindgren
Secretary General
Finnish Marine Industries

5. TheNorwegianPetroleumClusterEvolution
…to energy nation
Norway
• Systematic further
development of the NCS
• Systematic focus on
renewable energy where
Norway has comparative
advantages
• Systematic focus on
knowledge and competence
development
48,9%
29,1%
The petroleum sector’s share
of state revenues
The petroleum sector’s share
of total exports
1,5
1,8
2,9
1,3
1,0
1970 1980 1990 2000 2010 2015
45
85
100
210
250
1970 1980 1990 2000 2010 2015
Employees in O&G sector, thous.
Productivity, TOE/worker
…via petroleum…
• Clear framework
• International expertise
• Advanced offshore and
oil-related industry
• Restructuring of shipyards
and industry
• Develop competence
2000
From maritime and
industrial nation…
• Shipping
• Fisheries
• Shipbuilding
•Wide maritime expertise
• Process industry
• Mechanical industry
• Hydropower
1970

6. HugePotentialoftheRussianContinentalShelf
Total recoverable resources on NCS
3 bln.TOE (22 bln. bbl)
Total recoverable resources on Russian Shelf
38 bln.TOE (275 bln. bbl)
(Source: public data)

7. UnlockingTheRussianArcticPotential
–aMassiveChallenge

8. UnlockingTheRussianArcticPotential
–aMassiveChallenge

9. UnlockingTheRussianArcticPotential
–aMassiveChallenge
2003 - 2005 2003 - 2005
2009 - 2012

10. UnlockingTheRussianArcticPotential
–aMassiveChallenge

11. Freeze asset Sectorial measures Financial restrictions
 Targets only listed
persons/entities
 All funds and economic
resources belonging to,
owned, held or controlled by
any listed persons/entities
shall be frozen
 No funds or economic
resources shall be made
available, directly or
indirectly, to or for the
benefit of listed
persons/entities
 Ban on the export of listed
products/items for use in the oil
industry, if the export is destined for
certain categories of oil exploration
and production (deep water, arctic,
shale oil projects)
 Restrictions on providing technical
and financial services related to the
listed products/items
 Associated services necessary for
deep water oil exploration and
production, arctic oil exploration or
production and shale oil projects in
Russia may not be supplied, for
instance drilling, well testing or
logging services.
 Prohibition on certain
financing/investment
transactions with listed Russian
institutions
 Restrictions on access to
European capital marked for
listed Russian financial
institutions
 5 state owned banks (Sberbank,
VTB Bank, Gazprombank,VEB,
Rosselkhozbank)
 Rosneft
Transneft
Gazprom Neft
RestrictiveMeasuresinForce–EU/Norway
(Source: Hjort, law firm )

12. HistoricalandFutureOilPrices
(Source: DNB Financial Servises Company, Oil Market Outlook, May 2015 )

13. WorldClassCompetencesandKnowledge
(Source: Finnish Maritime and Offshore Cluster, 2011)

14. FinnishMaritime
Industries
(Source: Finnish Maritime and Offshore Cluster, 2011)
Innovation
Clusters

15. PositionforFutureNow–Beforeit’sTooLate

16. ByCollaborationandPartnerships
betterpositionedforfutureOpportunities
Thankyou!
andseeyouinMoscoworMurmansk