| Summary: | Masteroppgave i Energy management - Høgskolen i Bodø, 2010 In this thesis, we have explored some of the challenges exploration companies on the Norwegian Continental Shelves face in their business venture and uncovered aspects of the value creation process within the petroleum sector. We have also mapped the diverse types of business strategies that oil and gas companies use on a daily basis. Our research involves how an exploration company can become a producer, and all the interrelated synergic effects that become vital in a transition process like this. We mapped some core ideas, of how, and what to do in a given transition like the one described above. To describe our main findings, we would like to rephrase the famous saying that goes: All roads Lead to Rome, and say: there are many ways to Rome. What we are trying to say is that our respondents and we as researcher see many opportunities to become a production company. The following study will show that a good mixture of strategy, competence, portfolio management, financial management, and risk management becomes crucial to keep balanced when a company develops. However, despite many opportunities, it takes time to find all the roads to Rome, and companies that wants to accomplish a success full transition, must be aware of all the challenges that becomes essential during an expansion.
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