{"id":27229,"date":"2022-04-19T04:22:32","date_gmt":"2022-04-19T04:22:32","guid":{"rendered":"https:\/\/sms-bridges.com\/staging\/?p=27229"},"modified":"2022-06-14T02:02:34","modified_gmt":"2022-06-14T02:02:34","slug":"wellesley-petroleum-supplying-gas-to-europe-and-beyond","status":"publish","type":"post","link":"https:\/\/sms-bridges.com\/staging\/wellesley-petroleum-supplying-gas-to-europe-and-beyond\/","title":{"rendered":"Wellesley Petroleum: Supplying \u2018Gas to Europe\u2019 \u2014 and beyond"},"content":{"rendered":"\n

Companies like Wellesley Petroleum, one of the most active explorers in the mature areas of the Norwegian continental shelf, understand this importance.<\/p>\n\n\n\n

\"\"
Chris Elliott<\/strong>, Chief Executive Officer and Exploration Director of Wellesley | \u00a9 Wellesley<\/figcaption><\/figure><\/div><\/a><\/div>\n\n\n\n

While the organization is among the newer players in the field, its team of highly experienced industry professionals backed by a group of institutional investors led by Blue Water Energy, a leading energy-focused private equity firm based in London, brings years of combined expertise to the table.<\/p>\n\n\n\n

Since 2016, Wellesley Petroleum has participated in 25 wells and counting. Focused on hydrocarbon exploration and development in Norway, the company has a solid reputation as an active exploration operator, with a wide portfolio of high-quality development projects bearing witness to their exploration success.<\/p>\n\n\n\n

\u201cNorway is a very good country for exploration; fundamentally, there\u2019s oil and gas to be found. Also, the business climate is favorable for new entrants, and Norway\u2019s OECD rankings of trust and anti-corruption, et cetera, make it a much more stable environment,\u201d Chris Elliott, Wellesley CEO and exploration director, pointed out.<\/p>\n\n\n\n

Norway is a very good country for exploration; fundamentally, there\u2019s oil and gas to be found. Also, the business climate is favorable for new entrants, and Norway\u2019s OECD rankings of trust and anti-corruption, et cetera, make it a much more stable environment.<\/p>Chris Elliott<\/strong>, Chief Executive Officer and Exploration Director of Wellesley<\/em><\/mark><\/cite><\/blockquote><\/figure>\n\n\n\n

\"\"<\/a><\/figure><\/div>\n\n\n\n

As a proponent of hydrocarbon exploration, Wellesley Petroleum has been actively engaged in its energy security initiative. The company\u2019s long-term strategy is to find and develop cleaner sources of gas to replace coal, especially in the transition to clean and renewable energy. This agenda is even more vital now, more significant than ever, given the Russia-Ukraine crisis. \u201cOur \u2018Gas to Europe\u2019 objective displaces coal, which is much dirtier. Norwegian pipeline gas is cleaner. And of course, there\u2019s the security supply issue,\u201d Elliott said.<\/p>\n\n\n\n

Moving forward, the company is looking to focus on the development of hydrocarbons, aside from exploration. Elliott said: \u201cOur original model was to sell our discoveries and let somebody else develop them. With an expected production level of 60,000 barrels of oil equivalent per day by 2029, we are now considering whether we should actually stay in some of those projects to become a full-sized company that explores and also develops.\u201d<\/p>\n\n\n\n

\"\"
Workers on the rig floor take part in a recent operated drilling campaign. | \u00a9 Wellesley<\/figcaption><\/figure><\/a><\/div>\n\n\n\n

In the pipeline, as well, is the thrust to strengthen partnerships with Japan.<\/p>\n\n\n\n

\u201cWe\u2019ve had a strong relationship with Idemitsu Petroleum Norge since the very beginning of our development projects. Japanese are highly trustworthy and we have a good working relationship with them, one we wish to continue with new projects.\u201d<\/p>\n\n\n\n

www.wellesley.no<\/a><\/strong><\/p>\n\n\n\n

<\/div>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Discovering new sources of energy is a crucial task. After all, it\u2019s what keeps the world going. Companies like Wellesley Petroleum, one of the most active explorers in the mature areas of the Norwegian continental shelf, understand this importance.<\/p>\n","protected":false},"author":7,"featured_media":27232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[600,292,259,148,612,152],"tags":[511],"class_list":{"0":"post-27229","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-600","8":"category-articles","9":"category-bridging-japan","10":"category-norway","11":"category-oil-gas-norway","12":"category-oil-gas","13":"tag-energy"},"yoast_head":"\nWellesley Petroleum: Supplying \u2018Gas to Europe\u2019 \u2014 and beyond - Bridges Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sms-bridges.com\/staging\/wellesley-petroleum-supplying-gas-to-europe-and-beyond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wellesley Petroleum: Supplying \u2018Gas to Europe\u2019 \u2014 and beyond - Bridges Magazine\" \/>\n<meta property=\"og:description\" content=\"Discovering new sources of energy is a crucial task. 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